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RE: Investing Legend Calls Cryptocurrencies "Biggest Bubble Of A Lifetime"... But There Is A Catch
If Novagratz says that crypto could be worth 5 trillion in the next five years, then where is the bubble? I personally feel that we aren't in a bubble that is going to pop. Sure, there will be correction and consolidation . . . . but every time the market goes down 25-30 percent, people forget that these very same coins have gone up HUNDREDS of percent.
This seems a bit relevant, even though I do not believe we will POP
I am quite lost... he said biggest bubble but then could be worth 5 trillion haha... He's taking both sides!
Maybe what he mean is its bubble short term but a long term asset years from now. Why not take some profit short term and buy back later when its cheaper.
True but now your speculating. :)
Precisely. Anyone not leaving in a core position longterm is a fool. Crypto is totally different than any other asset class than we have ever seen in history so people easily misjudge it. Cryptocurrencies are not companies with earnings and its all based on Metcalf's law. In other words, the more users the more demand for the token. Its like gold was invented 9 years ago and its value started off near zero but its growing into 8 trillion dollars. Just imagine in 20 years how big some of these Internet currencies will be. Beyond people's wildest dreams baring that nothing catastrophe happens that can't be worked out.