SEFT 063: Final Thoughts on Bitcoin & BCS

by | Dec 5, 2017 | Podcasts, Sports Betting Tips

  • Final Thought Episode: 63
  • Topic: Bitcoin & BCS
  • Host: Spooky

Last August 2016 I mentioned to everyone that they should start looking at the Oakland Raiders making the playoffs, some other football futures and they should also buy Bitcoin. Then in August 2017 only 4 months ago I proceeded to talk about some futures with Tennessee Titans making the playoffs and a few other winners and losers and once again told everyone that they need to start buying Bitcoin.

So here we are in December 2017 and all of a sudden whether you are watching Fast Money on CNBC, listening to CNN or Fox News, scrolling your Facebook page or checking your CNN, Washington Post, Huffington news apps on your phone all you are hearing about is
the Bitcoin and crytpocurrency rally going on.

The crytptocurrency market cap is now bigger then GE, Boeing and Disney. Coinbase is adding 300,000 users a week and they have more users then brokerage Charles Schwab.

Some people are calling it a bubble but most bubbles do not disrupt an industry. This is a technology that is disrupting financial services and I don't know many bubbles that disrupt services. Lots of people are asking me how high will this go from here. As some have
said before me, Trees don't grow to the sky and the pace of all this bitcoin appreciation has been really fast. With all this you would almost think that we should start becoming nervous but then I'm like wait, the entire crypto market cap is three hundred billion dollars and that is NOTHING.

The Nasdaq alone back in 1999 bubble was over six trillion dollars and this crypto phenomenon is global, from Japan to Korea, where Nasdaq was more a US based market only. So I have a sense this will keep going a lot higher. Gold is at 8 trillion dollars and so with Bitcoin at 150 billion this whole thing could grow another 30 or 40 times, maybe even 50 times higher than what it is today. Bitcoins could even replace Gold so Im saying my call would be this thing is going to go a lot higher.
This is a financial revolution.

I truly feel this is only the beginning of another massive bull run for Bitcoin in 2018. I would not be surprised to see Bitcoin worth over $40,000 by the end of 2018. That is a very ambitious goal, to say the very least, but one which is not entirely impossible either. After all, we have seen a 1,000% increase this year, which means a 400% gain should be pretty easy to achieve.

How that will be achieved is the big question. It is certainly true that there is a genuine demand for Bitcoin as a speculative investment vehicle. Few people actually use it for proper transactions such as paying for goods and services, though. With more and more people buying Bitcoin and holding it for the long term, BTC will become scarcer. At the same time, there must be an increasing demand for this currency as well, which may not necessarily materialize organically.

As I mentioned in my last podcast there will be another “big wave of money” that will be coming to Bitcoin and other cryptocurrencies in the next twelve months. This money will not just come from hedge funds, which have shown an increasing interest in Bitcoin exposure. However, that money alone will not be sufficient to push Bitcoin’s price to $40,000 whatsoever. It is an important first step, but it will be up to the rest of the world to follow suit.

One thing that sets Bitcoin and most other cryptocurrencies apart is that there is no supply response, meaning there is a limited supply of coins to go around. This is true for most cryptocurrencies, although Ethereum is a rare exception. For speculators and people willing to take a gamble in the investment world, cryptocurrencies are the perfect solution. I think Ethereum will even hit over $1500 in 2018 which is pretty significant.

Also the futures markets with Nasdaq, CME and even the Tokyo Financial Exchange are jumping in and this is the start of institutional money pouring into the market which is only going to keep driving prices. You will start seeing crytpo currency as payment gateways for lots of e-commerce stores like Overstock has been doing. It will not make a huge difference to the value but it will help it become more mainstream and more eyes and articles on it.

By the way, Clemson Tigers will once again WIN the College Football BCS National Champions. Risk as many satoshi's as you want on it.

Click here for $10 Free when opening up your Coinbase account.

 

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