Crypto Update



Here are my predictions lately:

– I predicted a Bitcoin crash, and it did drop down to about 5500, but immediately shot back up. HOWEVER, my crash prediction was predicated on a fork happening, and it did not. So the conditions necessary for my prediction never happened, so I kind of want to claim a wash. Otherwise, I have been worried about attacks from Bitcoin cash, but that’s less a prediction than a caution. The attacks came, but had less of effect than I worried.
– I predicted that Ethereum was overpriced and that it would go nowhere past $300. Totally wrong.
– I predicted EOS was undervalued at .50, and now it’s $2. 4x return.
– I predicted that SALT was underpriced at $2.50, and now it’s $3.50.
– I predicted that Civic was underpriced at .27 and now it’s .32…with lots of room to go up through Dec. On track.

I don’t know what is up with Ethereum. It’s up like 60% this weekend.

As far as I know, there is no news except that people think it should go up. That may just be where we are in crypto right now.

Small pieces of news: Casper proof of stake is still ongoing and MicroRaiden network is coming close.

My only guess is that the world has decided that Ethereum is just relatively underpriced compared to Bitcoin.

Same with Litecoin. It’s up a bunch.

Here’s what I’m beginning to get around to on my own views: Bitcoin is going to be a store of value for a while to come. Until payment channels roll out, people are going to have to rely on another coin for transfers. I have been using Ethereum, but Litecoin is good for that, as well as Bitcoin Cash.

I still don’t see long term reasons for these to exist, but short term is becoming more clear.

I’m starting to think we are entering a phase where I am going to just completely switch my strategy to a broad diversified portfolio instead of going all in on predicted winners.

I probably would split a good portion between Bitcoin, Ethereum, and Litecoin, maybe 5% to Bitcoin cash. 20% to various tokens, and 10% longshot speculation.

My new predictions, of which I have lower confidence:
– Short term bullish on Bitcoin. RSK is rolling out next month and lots of institutional money incoming. 10,000 by 2018
– ETH has another 20% to go up, but I wouldn’t buy in at this point. Probably a pullback. $400 on Jan 1.
– Civic at .50 minimum by 2018. Maybe $1
– EOS at $3 by 2018.
– Salt at $5 by 2018

I’m currently looking at PROPS token, but not much else.

Be extremely careful, because the wolves are out. I’m thinking about writing an article about the ridiculous pitches I get in my inbox daily.

I will leave you with this: Never invest in a token that is advertised on Facebook.

About the author

Jeremy Tunnell

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By Jeremy Tunnell


I am a startup founder, investor, mentor, and zouk dancer.
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