I won't lie, seeing the latest news out of China did not give me pleasant thoughts.
I won't say it outright scared me, but it did cause me to reevaluate my investment thesis and question why I believe what I believe and why I own what I own.
For anyone out there that may have been having some similar thoughts here are some recent sources of inspiration to give you that warm fuzzy feeling again!
All of which were put out within the last 24 hours...
First up is a picture of Floyd Mayweather.
But not just any picture, check out what he is holding...
He's holding up his Titanium Centra Card which allows him to use Bitcoin, Ethereum, and other cryptocurrencies to buy real tangible goods out in Beverly Hills CA.
Perhaps he even bought those shoes behind him with that card?
Next up is this guy's blog/twitter:
The link to his twitter can be found here:
https://twitter.com/BKBrianKelly?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Brian Kelly is one of the Fast Money Traders on CNBC that I have followed for some time now. He is a decent trader, not the best but he is right more often than he is wrong so he has that going for him.
He is especially bullish Bitcoin though, and he sent this postcard when he was away and all the turmoil surrounding China and Bitcoin started:
Reading that should help bring a few warm and fuzzies back!
This final tidbit is the one I found most exciting, and the one that really gave me some warm fuzzies though!
It's a video of Tom Lee on the Fast Money show talking about his current thoughts on Bitcoin after all the latest news.
If you recall I wrote a post about him a few months back talking about his bullish stance on Bitcoin and why he thinks it hits $6k in 2017 (it was about $2800 at the time).
It was great that he was on the show yesterday because I had been wondering myself if he had changed any of his price projections based on the recent news.
The actual link to this video can be found here, watch it:
https://www.cnbc.com/video/2017/09/14/tom-lee-heres-why-bitcoin-will-hit-25000.html
Let me just say, wow, he hasn't wavered one bit!
If you don't understand why this is significant coming from Tom Lee, check the guy's track record.
His calls are right far more often than they are wrong. He is one of the best, if not the best, analyst out there in my opinion.
If Tom Lee is more bullish than ever on Bitcoin and it's future price, there is probably a very good reason we should be too!
Stay informed my friends.
Image Sources:
https://twitter.com/BKBrianKelly?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
https://www.cnbc.com/video/2017/09/14/tom-lee-heres-why-bitcoin-will-hit-25000.html
Follow me: @jrcornel
An excellent article that does bring warm fuzzies, even to someone not holding 1 BTC! Exciting times we are entering in the currency wars happening right now and having access to such information and experts really makes a big difference.
Thank you for sharing this information with us. I guess, by now, most people that have delved into investments will hit the Tom Lee site while half of them will go check out Brian Kelly!?!
All for one and one for all! Namaste :)
I on the other hand was looking for a big bear so I can buy some Bitcoin myself since I was silently listening and reading for the past 4-5 months without finding the courage to buy and when I finally did the prices were only going up. I know it will recover because it always does and exceeds the previous highs. China is holding only 15% of the cryptos on the market and I do not think it will be a permanent ban and closure on the exchanges.. but even if it is - that crypto is not going anywhere but into other peoples wallets so it will still be there to buy, trade and cash out and technology will still be developing and getting better. Dream on guys and lets hope to see Steem and Bitcoin getting 10-15x or more than what they are today!
No, they just want to shake the the tree and stir up the market so they can take control over a larger proportion of the market.
Make use of this excellent investment opportunity.
Like you I have been lurking in the shadows waiting for my opportunity to strike and I think it's now.
However, unlike you I have previously bought some Bitcoin (only tiny amounts) to enable a steemit top-up etc.
Great post.post of the day.i resteemed
Thank you!
I've been reading your articles from "who created Bitcoin" part 1 and 2 to this one and i feel so contradicting.. part of me want to invest in bitcoin but another part doesn't want to support this theory of bitcoin's going to be the new world currency and new world order.
Anyway very good article that makes me think! Will keep an eye for more coming posts from you!
Cheers!
Thank you for your continued following and support. I am glad I have kept you interested in my posts all this time. :)
Sir really so nice steemit working, thanks for good sharing
Following for updates
You are not the only one that feels this way. I too am conflicted on cryptocurrency. I do believe that blockchain technology has the potential to revolutionize the world as we know it, but it will not come without resistance from bankers and the government. How large of a role that Bitcoin will play in a revolution is yet to be determined (there are alternate cryptocurrencies out there that are competing for a share in this market). Some of these are shadier than others (looking at you, Monero), but that's not to say that they can have a large part in the future. If you want to invest in Bitcoin, I would recommend doing some background research on blockchain technology and maybe learning a little about the different crypto options out there. I see too many people throw their money into crypto just because the price is rising, but it's much more than just that.
Floyed Mayweather is one cool dude!
Trying to learn how to stay informed. Thanks for the post. I'm new to crypto and steemit. Posts like this make me feel better about investing. And pretty cool with that credit card looking thing! I wonder if he really has any money in it or it is just an ad. Interesting though. When will those roll out globally?
Thanks for giving us your insight! And at the moment we see a lot of green on the charts, so things are picking up!
Green is good!
I agree with you! If a person like Tom Lee is still very optimisctic about the projections of bitcoin, I think that we can stay calm and focus on making our money grow, but at the same time always is important to keep our eyes open, and to read posts like this.
Have you followed him much?
And also India's RBI is trying to make it legal to counter China's ban. I am not sure authenticity but there are talks going on.
Really? I had actually read the opposite recently... that India was looking to possibly ban as well but were still in very early discussions. Do you have a link?
My fellow Indian Friend has shared this https://steemit.com/thealliance/@arunava/a-bit-of-good-news-for-bitcoin-2017915t222642846z. As I said I am also too not sure about it. We will wait and see.
Themerkel article https://themerkle.com/reserve-bank-of-india-may-grant-legel-tender-status-to-bitcoin-soon/
Good pep talk. Thanks!
Are you ready to go back out there and win the game? :)
Put me in Coach Cornel!
Me too!
@jrcornel - Whew. Thanks for this article which helps to bring back the warm and fuzzy feeling. Though I am familiar with similar downturns in crypto market in past 2-3 months and have always seen it rebounding, as you have said - the news from China worried me and a lot of others. For me, apart from the 3 good signs that you have shown in your article, the fourth good sign is that @jrcornel has got the warm and fuzzy feeling again about bitcoin price rise!! That one is good enough for me to maintain my faith in Bitcoin.
Thanks. Upvoted full.
Regards,
Haha well thank you for those kind words!
This is the news a newbie like me needs to hear after all the negative news all week!
What a great way to start the weekend.
Floyd Mayweather in the mix is awesome news and i already see bitcoin recovering in the coincap market.
Bitcoin All The Way Up .
Ah, its nice to get some warm fuzzy feeling back.
There was a brief rally today, That gives me hope too, start of a recovery! Hopefully
Yes! It is nice to see some green on the charts. There hasn't been much green in the last week or two.
Definitely. Even though I have faith in crypto it was getting a little hair raising watching it sink further down each day with no respite. Even if it's a short lived rally it has been enough to bring my confidence back!
@jrcornel, v nice to hear that good news from you. everything should become in proper position soon. Resteeemed
Thanks for the encouragement. I think it important to take a step back and realize the tremendous run over the last year... In that context, this is more of a pullback before the next leg up, in my opinion.
I like your thinking! Have you purchased any yet? Now might be the time... ;)
Needed good news. Thanks. Everything seems to be recovering well now but we still have a couple weeks of China exchange fud
Yes. It would be nice if we could just fast forward until September 30th... Although I think the liquidations should be slightly more orderly going forward now that the "shock" is gone.
If the major Chinese exchanges are going to shut down, at least temporarily at the end of the month, we might see even more upside as Chinese traders buy bitcoin to get their founds out of those exchanges. This might actually be very bullish news.
there is simply no doubt about the future of cryptocurrency which is great
I've been perusing your articles from "who made Bitcoin" section 1 and 2 to this one and I feel so negating.. some portion of me need to put resources into bitcoin yet another part wouldn't like to help this hypothesis of bitcoin will be the new world cash and new world request.
At any rate great article that influences me to think! Will keep an eye for all the more coming posts from you!
Here's to you!
If it's good enough for Floyd!
nice
Very cool post!
its dodgy mining at this time https://steemit.com/cryptocurrency/@stiffywalsh/1-6-million-computers-infected-with-mining-malware
Nice article, thanks for sharing!
Interested in upcoming and (still) under the radar ICOs?
I have currently a subscriber reward system going. For every milestone I will share an exciting and promising ICO which is before pre-sale or crowdsale whitelist closure. Next milestone at 25 subs!
https://steemit.com/cryptocurrency/@schwmm/upcoming-ico-tips
Other than that I write beginner guides to help others into the world of crypto! Check them out if you like, cheers!
Sir really so nice steemit working, thanks for good sharing
Following for updates
Titanium Centra Card... interesting. Well the bounce back is in full swing, STEEM up to $1.16 ... never a doubt !
hooooooooooooooooooooooooot
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It's been a grim week, shares in all crypto have dropped like a stone and my shares in Etherium have dropped far lower then I anticipated. But, it's not unusual to see these fluctuations - I am confident they will bounce back - in fact I just checked and Etherium has climbed massively back to my original buy price in just a few hours.
The more I understand about blockchain technology the more I understand its role in our future is inevitable. Buy while you still can...the price is going back up!
Quite refreshing post.......bitcoin is still king all the way!
Thank you soo much for this post!! I'm brand new to this community, and part of why I joined was my concern with crypto currencies future. This post made my day! Thanks @jrconel
Great article. Needed somethings to be warm and fuzzy about.
hadn't heard about him with the crypto card yet lol thx for sharing!
With China giving its traders until September 30 to divest their Bitcoin and other cryptocurrency holdings, it's likely we will continue to see strong price fluctuations at least until then.
Sellers will be dumping on any moderate upticks which will force prices back down again as supply increases. Although there appears to be demand elsewhere, larger buyers will only step in on weakness. Many, I would assume, will wait until the deadline is closer and sellers become more desperate to unload.
Tom Lee is an analyst I wasn't familiar with so thanks for sharing the video and introducing me to his analysis on the future of bitcoin.
He made several interesting points in the video:
Bitcoin is not as widely held as many people think. His analysis reveals there are only about 300,000 holders of at least $5,000 USD worth of bitcoin. He likens calling bitcoin a bubble to saying the iPhone was a bubble a few days into the sale because 500,000 iPhones had been sold.
The actual bitcoin network technology is generating the value such that the "VISA of bitcoin" is not going to be as valuable as the actual blockchain network itself.
The bitcoin network is highly trusted because at this point it would cost almost $30 billion dollars to make one fraudulent bitcoin.
What is bitcoin worth in 2, 3, 5 years? Lee sees bitcoin taking a place in this generation as a store of value similar to the role of gold. If bitcoin grows to 5% of the gold market's value in 5 years the price would be ~$25,000 per bitcoin.
Bitcoin will experience volatility through 2017 but "...is your best investment into the end of the year."
I saw it as an opportunity to buy cheap. Cryptos are getting mainstream and there is a lot of good news like this ones. Thanks for the info!
I would resteem it but I only have one follower lol.
Well I will do it anyway for my future followers haha
Good post @Jcornel They all know it. Bitcoin is unstoppable. I apologize for posting my link in your post, but I think it's an important addition to all this. JPMorgan London division has been net buyer of Bitcoin Tracker One ETF on the Stockholm exchange yesterday. Been buying big compared to other days.
https://steemit.com/bitcoin/@scandinavianlife/jp-morgan-securities-plc-buys-bitcoin-etf-on-the-swedish-exchange
Good read. It's only a matter of time before Bitcoin bounces back anyways. Sooner or later it always does, at least it seems that way!
well the crypto market just needed these to counter jp morgan and hopefully it worked for the best, the market is up again.
Titanium centra card seem to be an ICO comming soon not really safe from scamadviser point of view be all carefull!!!!
https://www.scamadviser.com/check-website/centra.tech
Now is a worse time in my life and these encouragements help me a lot. Thank you very much! : D
Pretty boy Floyd...I wonder how much he is getting paid for this. We all know he comes with a very fancy price tag.
He is actually just a Token Holder, Every Centra Holder with 10 or more Eth's gets a card. Black, Gold or in his case "Titanium". The bonus he probably received from the ICO sale should be worth few "McGregors"...:)
Wow, Interesting. Who would have thought Floyd would be a crypto fan, lol.
when you make money...you invest them, simple rules
Good job
I like it ...plz vests send SBD ,steem n follow me @mudatnad
Thks u
Good luck today
So the China liquidation caused the price drops. Great as it will definitely pick up again.
@jrcornel Incredibly pleasant completion of article! Beloved the photographs and outline..
Upvoted and Followed. Please followback and please upvote and resteem if you would like to help each other out: The REAL reason Jamie Dimon of JP Morgan called Bitcoin a "Fraud" (NOT what you've heard elsewhere about wanting to drop the price) a 30-second read: https://steemit.com/bitcoin/@thoughtchain/viral-why-jamie-dimon-called-bitcoin-a-fraud-not-what-you-already-heard
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very interesting !!
Its just a matter for time when cryptocurrency become mainstream
@jrcornel: here's another "story" that might help you to get that warm fuzzy feeling again... :)
I'm trying to buy a Nano Ledger S hardware wallet, but in my region no webshop does have it because they are all sold out and it seems it's difficult to obtain one due to high demand.
It's maybe small, but I would like to see more of that kind of news instead of big countries doing whatever they want (going on for ages so why is everybody surprised?)