This past month was when BTC showed it has potential momentum to go up quickly, for some analysts it just seemed it was too quick. Most altcoins did the opposite, as people seemed to be dropping their holdings in them to get on board of the fast-climbing Bitcoin. There is no doubt that BTC should be a major part of your portfolio. There is definitely consensus among many that we are heading up over the next few years. It seems that if all continues as is we will be seeing 3x-6x gains in the next couple of years, and on the high side, some are speculating that it might be more like 8x-9x gains from here.
As of this writing, BTC price has been hovering between $10400-$11200 USD, up 23% from the June 1st average.
Though there are the Peter Schiffs of this world that are stubborn gold bugs that think all crypto is heading to zero and gold will go to the moon. Like Warren Buffet not believing in Google or Amazon because he did not see the value and instead invested in IBM. Warren admitted in 2017 he got it wrong and said “I was just too dumb to realize” in relation to Jeff Bezos. Will Peter finally come around in a decade or so from now when gold could be just a pretty yellow rock with some utility.
Crypto markets do need to mature to the point that institutional money has the ability to enter. BTC is the only crypto with the potential liquidity, all the other altcoins just don’t have that and the question is whether they will in the future either. Though for the smaller individual investors or traders, the altcoin market is great to play with and try your hand at making a profit or even a living if you dare to cash-out of some of those profits.
In the last month the Madbyte Team has been helping another crypto altcoin to get a project developed that in the end will also help Madbyte coin gain another step forward.
All the best from us,
Madbyte.com Team
