Although I am still extremely new to this, but thankfully having prior experience in currency trading, it has not been too difficult to understand cryptocurrency. FYI, Forex market is a $4 Trillion daily volume game all around the world. Now crytocurrencies are at a mere ~$10 Billion a day, that is 0.25% of the Forex volume! And one more beautiful thing? Cryptocurrency markets are
24/7!!
So I think it is quite obvious that a Bitcoin crash won't happen anytime soon, this is because at a time when it is reaching ATHs and being reported in all major financial news channels like Bloomberg, Forbes, CNBC, CNN, Marketwatch etc. You will continuously get FOMO's and newbies like myself jumping onto the train.
The only difference is, we are small fishes, the real rich institutional money, major hedge funds and investments arms are the ones that will makes waves and add major market cap. Just past 2 months we saw what difference South Korea's exchanges alone can make to the cryptocurrency world. Imagine when the rest start to get in! Although a correction will definitely happen, a crash maybe not so soon.
Also, hasn't gold taken a back seat since at least 5 years ago with the so called safe haven status? Why are people still talking about gold? In a world of tech, I feel gold really loses its edge to crytpocurrencies. Even holding onto USD yields more than gold.
Yes, that's the reason many thinks cryptos are just at the beginning and those early adopters has and will reap benefits from this.
The other good thing is that the big boys are only starting to get warmed to the idea of cryptocurrencies. Once they come in with their funds, I think cryptos will go kaboom to the stars and beyond!
Gold? Stock market? Bonds? FD? Unit trust? Forex? I don't even want to look at them anymore...