Crypto Market Update

In my best estimate, the price of Bitcoin (BTC) is going down in the short term. Some traders online are saying that the BTC price will hit $8000 once again. I’m waiting for more deals to appear before making new moves.

Some facts that are true regarding crypto right now are that social media companies are censoring posts related to crypto. As I mentioned in a previous post, some of the 2017 crypto growth is attributed to social media related to crypto. If censorship by major media continues, it will be harder to educate new users about crypto using these channels and onboard them. Another major marketing point which attracts new users is increases in the price of cryptocurrencies as highlighted by the news. If the price does not move up quickly, then this marketing bullet simply does not work.

Also, since Coinbase was forced to stop allowing credit card transactions, new gateways and onramps to crypto have slowed down. If you would like to know my opinion on new value drivers for crypto in 2018, read: https://www.jaredschlar.com/2018/02/what-is-next-value-driver-for-crypto-in.html

I recent article on CCN.com states that Google Trends for “Bitcoin” and “Cryptocurrency” are at recent lows regarding interest. Until a new catalyst shows up, we may see sideways movement in coins.

Some uncertainty regarding ICOS is in the cards currently. Hopefully, regulators, investors and ICO owners can find a happy middle ground somewhere. Keep in mind, the innovations from ICOs are solving real world problems and it would be bad for the evolution of the planet to try to regulate them to death. The United States does not want to be left behind. I hope politicians realize that new cures for Cancer and other illnesses may be achieved through ICO related investment. Not to mention the Pineapple Fund has already donated $54.3 Million dollars to charities and plans on donating a total of $86 Million dollars in the near future.

Previously, I wrote about “the Flippening” from Bitcoin (BTC) to Bitcoin Cash (BCH): https://www.jaredschlar.com/2018/01/what-is-my-bitcoin-net-worth.html I think in the short term this is unlikely as the price of transactions on the BTC network is relatively cheap compared to where it was at Bitcoin $20k last year.

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