Charlie Lee, the creator and lead developer of litecoin, has said that he’s sold almost all of his coins. Which comes after the crypto’s rapid gains this year —up 274% in December alone, and 6,894% in the year-to-date.
Last night, bitcoin took another tumble. A single coin now trades for US$16,482. Rather than taking profits, investors were pulling out of bitcoin and jumping into bitcoin cash.
Rome wasn’t built in seven months of 2017. It takes longer. Years. Bitcoin has only been around for almost nine years. It’s like a single celled organism in the evolution of man chart. Have some perspective. Don’t get sucked into the mainstream hype and mania. Crypto has actually been around a while; it didn’t just appear in 2017.
Assessing the future is all about weighing up the odds. We can never be sure of how the future will unfold. So I talk in probabilities, never in certainties. With interest rates rising in the US, and with the post-2009 economic expansion being one of the longest on record, there is an increasing probability that the business cycle will soon start to turn down.
The legend of Coca Cola creating Santa is wrong. But in some way, it’s also right. You see, once they’d assumed the brand, they took control of Santa’s future image. They didn’t create it from scratch, but they did mould it over time. The legend became true after the fact. The legend of cryptos may become true after the fact, too.
What a year. Brexit, Trump, North Korea, bitcoin. While it’s nice to check out how much you could have made in 2017, it’s far more interesting to speculate on 2018.
Bitcoin’s cryptocurrency cousin bitcoin cash (BCH), surged 17.9292% this week. Its market cap now stands at $48.88 billion, with a volume of $3.68 million.
Cryptocurrency FunFair gained a staggering 38.23% this morning. Its market cap now stands at $920.69 million, with a volume of 3.29 million. Why did the FunFair price rise?
If socials divisions and crime are a result of social inequality, surely it makes sense to tackle this? The scales of wealth need rebalancing. And you can’t rely on the elites to do it. They’re still in a ‘let them eat cake’ world. There’s only one viable option…
Bitcoin may be headed for another correction in 2018. Or it could continue to defy expectations and confound the mainstream. Whatever happens, you shouldn’t be investing anything in bitcoin that you can’t afford to lose...