Nice one. I'm very bullish on bitcoin over the next couple years. I doubt we'll see much gain between now and fall though, so this is a great time to add to your stack. I typically buy some btc every payday (since I'm horrible at picking short term price activity). Bitcoin is useful for things that normal money isn't. I just sent a 5 dollar tip to a you tuber a few minutes ago and paid a 3 cent fee. The transaction closed in about 5 minutes as well. If I used the lightning network though it would have been instant and the fee would have been a tiny fraction of that 3 cents. That's something that the conventional financial system can't compete with.
*+Kai Sedgwicck* *>why bitcoin though. you can do the same with ltc , eth, iota ... the ist goes on.* I'm more fond of bitcoins since they're the most stable and the most blue chip of all the crypto. When panic hits the market, bitcoins don't fall as fast or as far. If there's any kind of major crytpo disaster that starts seriously starts wiping out crypto currencies, bitcoin will be the last man standing. And on average they tend to go up about 100% every 10 months or so. That's plenty enough gains for me. And when wall street, the bankers and the pension funds start moving into crypto, Bitcoin will be the biggest participant. Plus if I start selling bitcoins to buy other crypto, the IRS will tax me into oblivion. So when the time comes to retire I really won't need all that much money. If I decide to move overseas my effective income may be so low that I won't pay any taxes at all. For example I visited Cambodia back in the spring and saw a couple apartments with a nice pool and weight room for only 400 a month. Good medical insurance is 200 a month and a nice western style breakfast is only 5 dollars. If I move there I could live comfortably on way less than 36 thousand a year and if I'm below that, the long term capital gains tax rate is 0 percent. So I'll finally be able to escape the IRS that's been bleeding me dry since I got my first paycheck 35 years ago.
He needs buyers for his customers bags. You dont try to make hype when you intend to buy, but when you need to sell. His reputation will be worth 5 satoshies soon
@@morrisont It continued to go down another 9 months and halved in price, then took till just last Christmas Day to hit $25K. So not a very accurate prediction I'd say.
No ETF is going to be approved this or next year unless it’s only linked to the futures which meNs no real bitcoin being held. This is nonsense people claim otherwise
Francisco Santos It’s a system where people essentially bet money on which direction a commodity will move in value - up or down. Bitcoin is not considered a commodity (like oil, gold, corn / soy / wheat, etc.) but there are talks of making it so. I do not think introducing ETFs would be a good thing for crypto.
Over bullishness is only acceptable when you're pumping the establishments cyclical debt mess it seems. Playing games with interest rates and lending and is all traditional investors care about at the end of the day. How much fake money can people borrow to buy my products that they can't actually afford basically. A currency they can't control comes along and they say it's worthless and like rat poison hahaha.
that they want the price to go up? mainstream news was all about trying to kill crypto credibility for a long time now their goal has changed sinced we got btc futures they just want to control the price up and down and make a lot of money
6 лет назад
Man tom lee is persistent. If BTC doesn't hit 25k this year he's going to lose credibility.
I love that they got Thanos to sit next to Tom and didn't ask him his opinion of BTC, despite being a supergenius in virtually all known fields of advanced science.
Just when you think you know BTC , it does the opposite as of today (2018/07/08) BTC is @ $6846 BTC will do as Tom says ;) but disagree about BTC over Ripple/XRP
*I think Tom Lee is right it will probably rally to 25,000 before 2019* By the way bitcoin way overvalued, check out ALQO coin for a super under valued altcoin right now, once they build their exchange it will be worth 10x-20x current price!
Im bullish on BTC. But not so much on Tom Lee. As i recall, he's the guy who predicted the stockmarkets to rise 10% in Q3 of 2008. And i think we all know how that went. Long term, yes BTC. Short term? Could go down lower in my opinion. These predictions need to stop.
That camp little Tom Lee doesn’t know shit... if Bitcoin closes two-consecutive Daily Candles above $20K, we’ll probably hit $30K within 4 days, then $40K within 10 days after that, and possibly $50K shortly after... then correction to $25K or lower. FOMO & Greed from the Retail Punter is a powerful thing. Wall St, Institutional Investors, and Whales are clearly all accumulating presently (over-the-counter). Some time over the next 6 months, they’ll run it over $10K. Retail Investors will push it near $20K. After a slight correction, Whales etc will push it over $20K, and here comes the Retail Investors (Dumb Money) to take it to the Moon. Smart Money, once again, will be selling into the Dumb Money.
Mining cost has NOTHING to do with marketplace value of ANYTHING! Nobody buys bitcoin because of mining costs! What kind of bullshit is that! Tom Lee made a fortune with Litecoin and I thought he was smart, but attaching the value of bitcoin to mining costs is absurd! I have lost confidence in this guy! The value of bitcoin depends on where else you can put your money! You can't put it into gold because that market is rigged by 'paper gold' which has an INFINITE supply! INFINITE! This renders gold USELESS as a store of value! In April of 2012 the price of gold was $1,600 and I could buy a one pound bag of candy for $1. A bag of the same candy today is $1.18 and it's only five ounces, so the price of candy quadrupled since April of 2012. Did the price of gold quadruple to keep up with rising prices? No! Gold is about $1,200 today and so it lost 25% for those who invested in it and you can't even get a one pound bag of candy for $1 today, so you lose again, if you own gold! Bitcoin in April of 2012 was $5.95 cents and nobody was asking about the cost of mining bitcoins! They bought it for other reasons! It's decentralized and nobody prints it and then spends it, to get a free ride! Bankers ride free and we have to foot all their expenditures through inflation! That's why the bag of candy quadrupled in price! There must be a separation between government and money because if you let government be in control of the currency, they will rob you blind and hand over the monopoly of printing money to a group of greedy bankers who have no allegiance to anyone other than themselves! They exploit us and treat us like barnyard animals. We are there to provide them with meat and milk!
Wow! If forecasting value could be so simple. Applying Tom's wisdom... so, if a truly innovative, ultra high-tech, highly disruptive company historically was valued at 2.5x its expenses, then later down the road when its costs triple, the company's valuation will be 2.5x its tripled expenses. Brilliant !
NIK or that's just the way his head moves? Why don't you read about his successful forecast track record before writing him off. Don't be narrow minded like so many others.
First of all, the video title is clickbait because he never said that in this video. Second of all, Tom was dead wrong about consensus, so he has no credibility at this point. He's just making random predictions to further his own agenda, just like the bitmex guy and John Mcafee
he got caught holding the bag and wants liquidity to bail his position out. also, a prediction of something tripling IS a very bearish comment because it's indicative of a sentiment extreme seen at a turning point.
I'll disagree with Tom, I think XRP has the largest upside potential based on retail, institutional, and mostly utility volume. The xRapid, CODIUS, ILP, and Coil projects are all going, or are, in production and that alone will drive volumes way above historical values. BTC can stay a store of speculative gold while XRP rises. Also, XRPs strategic advantage is twofold, it can settle any asset class (FOREX, derivatives, remittance, cross border, crypto, etc.) and the manager team behind it is world class professionals. Right now XRP is the only rational long play.
1 year ago Bitcoin was worth $2400 and 2 years ago it was worth $660. And now they are worried that it dropped below $6000. People have to take a longer view here than to worry about daily price drops. This isn't a get rich quick scheme.
Jk Teehee - Look at when the video was published, likely referring to that year since it was published mid-2018. But even if it's older it still isn't recorded as gaining to $25,000 stock-wise.
I think it is the start of Bitcoin and other top cryptocurrencies for the rest of year. I am predicting that most top 10 cryptos will achieve their new all time highs on or before December this year.
Bitcoin will be at 1.2 miljion by the end of the year , mark my words , you won't believe your eyes , the prices will start to go up dramaticly from september
Fair value/expectation based on how much it costs to mine.... that’s... not actually how it works. If it costs 1000 bucks to build a Big Mac... that doesn’t mean you can sell a Big Mac for 1000 bucks.
Bitcoins evaluated against mining cost? The cost isn't a value proposition, it's a weakness. It strengthens the case for proof of stake (PoS) mining for transaction processing. Only in a digital world do we have a complete reversal. Imagine if the cost of extracting gold out of the earth indicated the price it's evaluated at. There will be no 'margin'. At some point it becomes uneconomical to mine a coin as proof of work (PoW) currently shows us. Cost of mining more accurately indicates the state of our 21st century energy infrastructure.
Bob, the analyst should now that all markets fluctuate because there are trades. If someone dumps, the value will decrease, if someone buys, the value will increase. This is normal market behavior and being the expert he is, he should know that. The privacy market still has a good demand (DASH, XMR, ZCash), some coins have potential in the privacy market (HUSH, ONION). The public will continue to buy Bitcoin to trade other cryptos so I don't expect BTC to die suddenly anytime soon.
Nope. I wouldn’t be surprised if the cost of bitcoin at the end of the year is less than today. I think we’re 7 months into a 2 year bear. This just completes the symmetry in the chart pattern. Similar to 2013, after a big spike. We trailed off for over a year before bottoming almost 2 years later. I think it could be even longer this time as the volatility continues to decline over time. I think we’ll be under 5k at end of year. I think it will bottom somewhere in the low 3s to high 2000s.
The guy has a large position on bitcoin no shit hes gonna go on cnbc and be like yea bitcoin to 25 k this is what these guys do dont buy bitcoin it will never be adopted as a currency
Just a little of my own personal insight which if you're an early adopter into bitcoin you are either an anarchist or libertarian and those people share my way of thinking. There's only a few ways this ends: BTC takes on massive adaptation causing the collapse of western currencies which is much more peaceful because it allows the people to proactively protect themselves, or government collapses currencies before mass adoption of bitcoin and then there will be massive inequality in wealth which will breed violence. The last option is something better comes out.
Comparing bitcoin to gold for production costs is a poor comparison. Gold has inherent value and uses in and of itself. Just because it costs more To mine than it is worth doesn’t mean jack because bitcoin doesn’t fill any unique purpose like gold can argue fills. I guess money transfer for illegal entities is its purpose though? But that just brings in regulation risk.
Tom Lee, l want to be clear: YOU DON'T KNOW THE MINING COST OF BITCOIN! Anybody who claims they do with any certainty doesn't know what they're talking about. And please stop bringing it up in your price analysis; mining cost has nothing to do with the current bear market nor is it an indicator of a trend reversal. Ok I'm done #HODL
CNBC, as usual hyping up stuff that never materializes. Like the games in the dot.com era and all the way into 2008 before it blew. Buy Buy, BTFD always. Typical rubbish.
CNBC is controled entertainment television. Do the opposite and you will do just fine. The best time to buy any assets is when there is blood in the streets. 😜😜 Be a long term holder of Btc not a trader.
Nothing exciting will happen till November people it never has and never will. It's just stress you don't need daily, just wait till November without stressing then you'll see gains, these videos are just ways of getting money/ content out there
Tf has mining cost has to do with value BTC..? Just because it has traded 2.5x mining cost before doesn't mean that it will keep doing the same forever.. As of now BTC is only fools gold.. I personally think Crypto will become something someday but not right now..
