I will tell you my story, I started to monitor crypto market since September 2018. I saw how much Bitcoin was back then: around 6300 USD and how it fell down during the last two months of 2018. Then I saw a consolidation pattern and pretty nice bull run since March to June.
When I saw Bitcoin standing at 13,900 USD on June 26th, Litecoin around 140 USD, Dash standing proudly at 180 USD; BAT at 0.47 USD I told myself – Oh No, I got late and FOMO took over me. But actually, I didn’t get late. Donald Trump’s tweets, SEC, Libra hearings, IRS new rules, lack of legal security mechanism spooked enough crypto investors and crypto market started gradually fall to new lows since June 2019. Cryptos hit their lows since the last week of September until last Friday.
Just remember, last week Bitcoin was falling to 7,300 USD, Litecoin 54 USD, Dash around 60 USD, BAT few weeks ago at 0.16 USD, and I could be saying more examples. Some fell down more, some less. But since Friday as a general rule, we can notice that crypto market started to show signs of revival. I cannot guarantee 100% bull run, the market can still be playing sideway hide and seek game.
But something has changed besides TA:
China has adopted cryptos and is proposing new cryptographic laws. That is a great advance for the second world economy. Let’s remember that many countries watch what China does and tend to copy them. Hopefully India would change its stance because these fundamentals will determine the economic future of each country. Remember time is money.
FED is cutting interest rates. Once again FED cut interest rates by 0.25% and continues with huge quantitative easing. That means more debt is flooding markets. Why do they do it?
It’s a desperate sign to revive the steam of the world’s most important economy while many countries are recording slowdown GDP figures and other economic indicators. Some countries are already flirting with 0% GDP rates such as UK, Germany or Mexico. Recession gets confirmed when 2 quarters in row register lower economic growth. Some people say recession for 2020 is imminent, I even dare to say that we may even get into second world great depression, which I explored previously.
I really hope I get wrong about it, I gave chances of around 60% to depression and 39% to recession, only 1% to economic boom.
Bitcoin is being accepted by more and more businesses. We may refer to Burger King of Germany, Starbucks, hotels, premium services, travel industry providers, and more and more companies worldwide. Even one taxi driver in Thailand accepts Bitcoin.
Cryptos count on celebrity endorsement which is a very important at advertising. Akon, Gwyneth Paltrow, Dallas Cowboys, Ron Paul and others start talking about cryptos, which is very important for their fans who consider them as role models.
When recession hits stock market, stock prices usually plummet. Investors pull their money and invest it into lower profitable activities just to keep the funds safe or they go to buy gold, silver, etc. Most of the money today is invested in stock markets and in commodities in stock exchanges located in New York, London, Frankfurt, Japan and other financial hubs.
What I really think is when recession and record drops hit these icons, traders and investors will start looking for alternative way of making big profits.
So cryptos here we go! There are a lot of analysts who predicted already pretty big bull run for crypto markets in 2020. Bitcoin wave or Alts wave? IDK, but when you are losing money as an investor you will start expanding your horizons.
I’ve been reading predictions on some of them for the next year: Bitcoin around 50 – 70 K, Dash around 300 USD, Ethereum above 700 USD, BAT going proudly to 1 USD mark.
Those maybe speculations of course but I also wanna remind you that at record highs of this year Ethereum and Bitcoin increased around 4.5 times from its lows, Bitcoin Cash around 5 times, Litecoin was the winner it made over 6 times profits. Maybe you believe it or not? Well, I chose to believe it because what I have seen in many countries is that low qualified people in government are in charge of making important economic decisions, and the results of world economic performance indicators have been going gloomy, let’s say going from worse to worse.
So I chose to believe in cryptos, save in cryptos, learn about them, invest in them, do cloud mining, explore different cryptos apps and participate in crypto social media such as Uptrennd, Publish0x, Steem where you can earn free cryptos because I strongly believe that now it’s the time to do something if you really want to protect your assets.
Let me know what you recommend me to invest in for 2020?