Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
1. GOOGLE (Alphabet) - Primary AI Tech Stock For Investing 2020 - 17th Jan 20
ERY Energy Bear Continues Basing Setup – Breakout Expected Near January 24th - 17th Jan 20
What Expiring Stock and Commodity Market Bubbles Look Like - 17th Jan 20
Platinum Breaks $1000 On Big Rally - What's Next Forecast - 17th Jan 20
Precious Metals Set to Keep Powering Ahead - 17th Jan 20
Stock Market and the US Presidential Election Cycle  - 16th Jan 20
Shifting Undercurrents In The US Stock Market - 16th Jan 20
America 2020 – YEAR OF LIVING DANGEROUSLY (PART TWO) - 16th Jan 20
Yes, China Is a Currency Manipulator – And the U.S. Banking System Is a Metals Manipulator - 16th Jan 20
MICROSOFT Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 15th Jan 20
Silver Traders Big Trend Analysis – Part II - 15th Jan 20
Silver Short-Term Pullback Before Acceleration Higher - 15th Jan 20
Gold Overall Outlook Is 'Strongly Bullish' - 15th Jan 20
AMD is Killing Intel - Best CPU's For 2020! Ryzen 3900x, 3950x, 3960x Budget, to High End Systems - 15th Jan 20
The Importance Of Keeping Invoices Up To Date - 15th Jan 20
Stock Market Elliott Wave Analysis 2020 - 14th Jan 20
Walmart Has Made a Genius Move to Beat Amazon - 14th Jan 20
Deep State 2020 – A Year Of Living Dangerously! - 14th Jan 20
The End of College Is Near - 14th Jan 20
AI Stocks Investing 2020 to Profit from the Machine Intelligence Mega-trend - Video - 14th Jan 20
Stock Market Final Thrust - 14th Jan 20
British Pound GBP Trend Forecast Review - 13th Jan 20
Trumpism Stock Market and the crisis in American social equality - 13th Jan 20
Silver Investors Big Trend Analysis for – Part I - 13th Jan 20
Craig Hemke Gold & Silver 2020 Prediction, Slams Biased Gold Naysayers - 13th Jan 20
AMAZON Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 11th Jan 20
Gold Price Reacting to Global Flash Points - 11th Jan 20
Land Rover Discovery Sport 2020 - What You Need to Know Before Buying - 11th Jan 20
Gold Buying Precarious - 11th Jan 20
The Crazy Stock Market Train to Bull Eternity - 11th Jan 20
Gold Gann Angle Update - 10th Jan 20
Gold In Rally Mode Suggests Commitment of Traders (COT) Data - 10th Jan 20
Disney Could Mount Its Biggest Rally in 2020 - 10th Jan 20
How on Earth Can Gold Decline During the U.S. – Iran Crisis? - 10th Jan 20
Getting Your HR Budget in Line - 10th Jan 20
The Fed Protects Gamblers at the Expense of the Economy - 9th Jan 20
Last Chance to Get Microsoft Windows 10 for FREE! - 9th Jan 20
The Stock Market is the Opiate of the Masses - 9th Jan 20
Is The Energy Sector Setting Up Another Great Entry? - 9th Jan 20
The Fed Is Creating a Monster Bubble - 9th Jan 20
If History Repeats, Video Game Stocks Could Soar 600%+ - 9th Jan 20
What to Know Before Buying a Land Rover Discovery Sport in 2020 - 8th Jan 20
Stock Market Forecast 2020 Trend Analysis - 8th Jan 20
Gold Price at Resistance - 8th Jan 20
The Fed Has Quietly Started QE4 - 8th Jan 20
NASDAQ Set to Fall 1000pts Early 2020, and What it Means for Gold Price - 8th Jan 20
Gold 2020 - Financial Analysts and Major Financial Institutions Outlook - 8th Jan 20
Stock Market Trend Review - 8th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Cryptocurrencies Exploding: This Is Nuts

Currencies / BlockChain Aug 20, 2017 - 05:35 PM GMT

By: The_Gold_Report

Currencies

You can get to seven figures right now—it's possible, because I already have met 23 people who have done that, the youngest of whom is now 23, but was 17 when he bought Bitcoins initially.

You've got to be on high alert when you hear that even the harshest Bitcoin skeptics, like long-time Bitcoin slammer Josh Brown, of New York-based Ritholtz Wealth Management, are now blogging about buying some "in case I'm wrong," as he says.


Bitcoin not only survived the fork and brushed it off like dust, but it is absolutely surging.

I initially bought coins in early 2013 at $7 and liquidated the entire position at $119—a 17-fold return. Since then, I've been in and out of cryptocurrencies, always maintaining a core position with Bitcoin.

In March, just 150 days ago, Portfolio Wealth Global profiled Steemit, and it's gone up 28-fold—that's 2,900% in five months, top to bottom.

Monero, which we detailed in the same alert, has doubled.

Nothing would make me more satisfied than to see you ride this mega-trend into the seven-figure territory—that's what it's all about.

This is now past the point of hiding in the shadows—my friend's broker over at Goldman Sachs had even approached him to get some cash into the mix.

I remember publishing our Ethereum Special Report and giving it a price target of $25. When it surpassed $100, a subscriber emailed me a picture of himself, his wife, and his three kids in a beachfront villa in Thailand with a caption: "Tom, you were wrong on Ethereum. I didn't double my money—I made 676% and cashed out. Lol. Took fam on a 10-day vacation to paradise."

Here's my thinking, though: Many of my friends have never bought a single coin. They're in their 30s, like me, and their reasoning is that it's too technical and requires knowledge. I must assume, therefore, that this phenomenon is intensified for people who have even less appetite for tech-related processes.

I've been emailing top experts in the cryptocurrency sector, jumping on conference calls, and even took a flight to meet a six-year veteran of Bitcoin in the southern part of the U.S., where I'm currently at, with the purpose of finding the easiest way for people to get immediate exposure to this bull market with one click, as close to a "crypto ETF" as possible.

This is where my mind is at right now, and Portfolio Wealth Global is looking at all the angles. I'll have a complete assessment for you very soon.

My first question to this veteran is the same one you are probably asking yourself: "Are we late to the party?"

Here are the bulletin points of his reply to me:

1. Coinbase Secret Investors: This is one of the leading exchanges in the world, and in early 2015, Intercontinental Exchanges, the parent company of the New York Stock Exchange, bought into it.

The largest traditional clearinghouse in the world owns a strategic position with a Bitcoin exchange!

2. Bloomberg Articles: This is smart. I have to take my hat off to this guy for doing this. He hired an assistant to probe all mainstream outlets daily and summarize article titles, comments by readers, and information, and let him know the sentiment.

As I'm writing this, most large financial mainstream outlets are running "What Exactly is Bitcoin"-type articles.

3. Government Guidance: Now, here's where this will plant the flag in your mind that governments are about to become an integral part of cryptographic currencies.

For months, my good friend Doug Casey has been telling me about what he terms as "FedCoins," which are basically government-issued cryptos that he believes are coming, but the fact that the government is now actively investigating tax evasion and undeclared gains shows you that they realize what I've been saying for a while: these gains that people are making cannot be converted into fiat currencies without getting taxed because governments are losing a fortune.

The bottom line is that just like with the cannabis legalization movement, it's unstoppable at this point.

We're going to beat the crowd by miles, and I'll be funneling every resource Portfolio Wealth Global has to finding the perfect play for us.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosures:
1) Statements and opinions expressed are the opinions of Tom Beck and not of Streetwise Reports or its officers. Tom Beck is wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Tom Beck was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules