YES, the cryptocurrencies did drop over the last few months but really does this constitute the bubble bursting ?
Personally I think not !
Cryptos have levelled out if not risen a tad. Personally I think this is what the experts call a correction. Yes I have lost a little money and yes when you look at the graphs it doesn't look good but it hasn't hit rock bottom as all the doom-mongers predicted.
I also note that all the excitement on the various forums I follow has died down and for the most part they have gone relatively quiet. It does seem the internet is full of keyboard warriors and all those that just like to be able to say 'I told you so'.
To be honest at the moment i'm not worried.
I do think this like everything else goes in cycles and it all depends where the markets attention is at any given time. As I write this BBC News has just announced that Maplin has gone bust and earlier this morning announced that Toys R Us have also gone into administration.
This brings a different perspective to cryptocurrencies. When the financial world and the world of large companies and household names are in trouble people traditionally seek shelter in Gold and other tangible assetts.
If you've done your research cryptos are seen in this light by some so I have a feeling in my water (its probably got something to do with the bottle of wine I sank last night) that we will see cryptos rising in the short term.
Please note this is not a recommendation to buy. CCs are still a gamble but then what isn't in the current world. But it will be interesting to see how the CC markets pan out over the next few weeks because I have been predicting that a number of household names that have relied on having physical stores rather than going primarily online will sink this year. In fact I thought many would have gone down the pan in 2017.
Total Invested so far = £189.16p
13/01/18 - Bank Transfer to Coinbase £185.16 + Bank Charge of £4
Current Crypto Values
Bitcoin £74.54
Litecoin £73.72
