There are a lot of price targets out there so it is fun at times to dream and let ourselves go.
With that, there was an interview with Raoul Pal who was asked his price targets for both Bitcoin and Ethereum. Keep in mind that he is very bullish about what is going on and believes the charts are shaping up for a very powerful move.
His projects are as follows:
End of Year:
Bitcoin $200K
Ethereum $15K
End of Cycle:
Bitcoin $400K
Ethereum $40K
He figures the end of cycle somewhere around the end of the first quarter.
Here is the video of the interview. The prediction is at the 45 minute mark:
That certainly does mean that the remainder of the 4th quarter are going to be full of fireworks. Keep in mind, he is a big macro guy along with really following charts. If you subscribe to this, then his analysis might be right up your alley.
The question is will he be right? Of course, we are going to have to wait until that can be answered. Many are putting out similar numbers, although I have yet to hear any that were this aggressive in such a short period of time.
Another point that is raised by this is what would a run like this do for Hive. If only makes sense that such a powerful move in the two largest cryptocurrencies would translate into higher prices for Hive.
We saw something similar at the end of 2017. When that bull market took off, everything ran. Of course, at that time, we were in the middle of the ICO craze. That means a lot of junk ended up skyrocketing. The bear market that followed cleared a lot of that out.
Now, we are in a different environment. Granted, we still see a lot of junk out there, which will likely benefit from a massive bull run. However, people are now able to look at projects a bit closer to see what is happening with them. Is there actually development taking place or is there just a white paper thrown together by some project team?
Obviously, those who are optimistic about Hive know there is a lot of development taking place. There is a good chance this is what ultimately leads Hive to massive heights. Nevertheless, in such a short period of time, there is no way development will be responsible for much of a move. Here is where following the general trend of the market could play out.
During 2017, STEEM high near $9 so there is plenty of room to run. Would Hive reach this level? Hard to say. The environment seems a lot more crowded. That said, with a stronger foundation, it is easy to see how it is possible.
One thing that was not discussed is what takes place at end of cycle? The most logical conclusion is another bear market. This brings up the point that we could see a massive run up followed by a large sell off.
How do people handle that?
For those of us who were around in 2017, it is just another cycle in cryptocurrency. Certainly, there is every reason to bank some profits. However, it is always best to be a HODLer, with at least a portion of the portfolio.
Those who are just entering cryptocurrency for the first time, this will come as a horrific shock. We are in a realm where things can go up very quickly, and then reverse course.
If memory serves me, the 2017 run kicked off in November and was done in January. From that point, it was a bleed down that lasted the better part of 2 years for Bitcoin (near 3 for alt-coins).
How many people are prepared for that? If you are new to cryptocurrency, expect it. This truly is par for the course.
So what are your thoughts? Do you think Pal's projections for both EOY and EOC are accurate? Or is he way off base?
Also, what do you think the impact will be in the price of Hive?
Let your minds run wild. It is the weekend. Let's have a little bit of fun.
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