CAUTIONARY COMMENTS REGARDING BITCOIN FROM RONNIE MOAS:
My cryptocurrency headlines and price targets (set on Wednesday) have gone viral online. I just got Twitter follower # 5000 https://twitter.com/RonnieMoas -- My recommendation was picked up by more than 100 websites and seen by hundreds of thousands of people worldwide. See below (headlines) and bottom of this page. I STRONGLY advise AGAINST investing in cryptocurrency until after you have seen my 40-page report and the SERIOUS warnings in there.
There could be a Bitcoin meltdown August 1 (BIP148), so be very careful. More on this (BIP 148) below.
This blockchain technology and cryptocurrency is not going away (although many of the 800 cryptocurrencies may collapse). We are in the second inning of a nine-inning baseball game here, or in the first quarter of a four-quarter basketball game (to use a sports analogy); and this game could very well go into extra innings (overtime). The world is changing and what is going on in cryptocurrency and blockchain is a game-changer similar to what happened with the internet 20 years ago; computers 30 years ago; airplanes 50-75 years ago; and automobiles 100 years ago. Because we are in the beginning stages of this industry, there will be scams; there will be hacking; there will be exchanges crashing on days like August 1, 2017 where they may not be able to handle the flood of Buy and Sell orders coming in. There are now 800 crypto-currencies -- many of which will not be embraced and will go to Zero. That being said, I believe in the next 10 years at least 1% of the 200 trillion dollarscurrently in cash, stocks, bonds and gold, will find its way into crypto-currency. That would bring this industry to a twotrillion dollar market cap – 25X where it is today ($80 billion).
There are many forecasts out there for 2%-4%. If we hit 4.0% from where we are today (0.04%) you just got a 100X return on your investment and turn $10,000 into $1,000,000. There are people like Mark Cuban who believe we are in a bubble right now, while other well-known figures (including Christine Lagarde, John McAfee, Richard Branson, Bill Gates, Mark Zuckerberg and others) may bet against those in the Mark Cuban camp. The day after I came out with my $25,000-$50,000 Bitcoin price target for 2027, a well-known analyst on Wall Street (Thomas Lee) came out and said that Bitcoin will go to between $12,000 and $55,000 by 2022 depending on whether we hit his worst case or best case scenario. Lee is an accomplished Wall Street strategist with more than 25 years of experience in equity research, and has been top ranked by Institutional Investor every year since 1998. Prior to co-founding Fundstrat, he served as JP Morgan Chief Equity Strategist (2007-2014).
Amazon did not go up in a straight line from $100 to $1,000/share. I lost track how many 20% corrections there were along the way. If my memory is correct, there may have been a few 40% corrections along the way as well. Same situation with Tesla. For the record, I would not go near either of those. I see this universe of 800 crypto-currencies similar to the way I viewed the tech bubble/craze 20 years ago which also had ~800 names to choose from. There were a bunch that went on to attain mega-cap or large-cap status. Many names went to zero and then the others had different levels of success.
I am focusing my research only on the top 20 names by market cap in the cryptocurrency space. There are seven names above one billion dollars with #8 through #20 at $300 mln - $800 mln (as of July 9, 2017). To-date, I have only recommended three of them. Bitcoin (1) is at $42 billion; Ethereum (2) has a $23 billion market cap and Litecoin (4) has a $2.6 billion market cap. Side Note: Ripple (3) is at $9 billion, but I have not yet done any work on that one.
Warning: There is a major date to mark down on your calendar and that is August 1, 2017 when a decision will be made regarding Bitcoin Improvement Proposal 148 (BIP 148). Bitcoin is hitting a fork in the road, and on that day, depending on which way it goes, the coin price could make a major move to the upside or the downside. Bitcoin could split into two; or they can decide to keep everything as is; or decide to go in a different direction altogether (in an attempt and effort to stay one step ahead of everyone else who is trying to chase them down). Bitcoin could jump by 25% in early August and it could also drop by 25% (or more).
In my opinion, ten years from now, the price charts on Bitcoin, Ethereum and a few others from the Top Twenty, will look like the Tesla, Amazon, Google, Facebook, Apple and Netflix charts look today -- but their prices will not go up in a straight line. There will be a lot of volatility, and the higher we go, the more volatility there will be.
You will see this on August 1, 2017 unless there is a compromise between the two camps and they choose a path that will not disrupt the markets. I do have a 40-page report going out in a few weeks -- one of the most highly regarded and prestigious publications in the world is getting one-week exclusivity on it. I strongly advise you Not to act on my cryptocurrency recommendations until after you see my report and read all of the warnings. If you are not good with computers, you are probably going to need someone to help you set the account up (and protect the account). I, for example, opened up an account with coinbase.com. I bought Bitcoin, Ethereum and Litecoin.
Bitcoin is now trading at $2558. The consensus is that there is a ~33% chance the price comes down hard on August 1 … ~33% chance it does not move … and 33% chance it jumps significantly (higher). Everyone must make their own decision with regards to whether they want to Buy, Sell or Hold before August 1 and after August 1.
I had to go through a three-step authentication process at Coinbase in order to protect my account. This involved registering my telephone number and email address. I was not comfortable with two factor/layer protection. I was pleased to find out about a third layer that involved downloading an authentication app to my phone. Some of you may need some help doing that. Not as easy as it sounds. This will reduce to a minimum, my chances of having my account hacked. Now I am working on putting a fourth layer of protection on my account which involves hooking up a trezor.io (virtual wallet) device to my computer. I then transfer everything in the coinbase trading account to the trezor device. I then disconnect the device from my computer and place it in a safe place separate from where my passwords are kept. You must remember -- if your credit card is hacked (as mine was last week), the bank cancels the card and then puts the unauthorized charges back into your account so there is no risk to you. These cryptocurrency accounts are not regulated and they are not insured. Many crypto sites do not even offer live telephone support. If you don't know what you're doing, you leave yourself vulnerable to an attack or a hack (as rare and unlikely as that may be). You do leave yourself vulnerable if you do not go through the process properly and take the necessary precautions.
Please read the article below from NASDAQ regarding BIP 148 and make sure to click on the links in that article --http://www.nasdaq.com/article/a-bitcoin-beginners-guide-to-surviving-the-bip-148-uasf-cm797026
Also scroll Past the links to headlines tied to my recommendation and look at how complicated this blockchain, cryptocurrency, scaling and security game is. Remember you are not just investing in a gold-type of commodity. You are also investing in the underlying technology which has many uses (and many uses that have not yet been discovered). For example, Botox was originally used for removing wrinkles in the skin and today it is used to treat migraines. Many industries from banks to casinos are already embracing and using this new technology and we have only scratched the surface (just as no one knew what would spin-off from automobiles, airplanes, computers and the internet.
There is a lot of money to be made, but there are no slam-dunks and you must do your research and homework. Also remember that those who picked tech winners 25 years ago turned a few thousand dollars into millions by buying and holding for a long time and riding through the volatility (as we may see on August 1). This could result in a shake-out as we saw in the US stock market in 2008. Some panicked and sold … while others bought that panic and tripled their money since then. You can buy Bitcoin here at $2558 or wait until after August 1 if you do not have the courage to buy before that date. After August 1 you will either get an opportunity to buy cryptocurrencies on sale (or you will have to pay up significantly). No one knows which way this will break, but we do hit a fork in the road (inflection point) on August 1 . |
