CryptoSpace
Should I Sell My Bitcoin?
Published
2 hours agoon
By
cryptotapas
Bitcoin broke the 2017 highs by a mile and seems to continue its tear.
Many people, including HODLers, have started to wonder – will this sudden meteoric rise end up in an ugly crash?
Should I sell my Bitcoin and wait to accumulate more sats when the correction happens?
We cannot give you a ‘yes’ or ‘no’ answer, however, we can give you various perspectives so you can make your decision.
- Perspective 1: $100,000+ bitcoin predictions for 2021
- Perspective 2: Elliot 5th wave view
- Perspective 3: Global macro market crash and bitcoin
- Perspective 4: Inflation and crashing fiat
- Perspective 5: Devaluation of fiat currency
- Perspective 6: Other scenarios
Perspective 1: $100,000+ bitcoin predictions for 2021
Here are the recent price predictions for bitcoin by December 2021.
$100,000 based on Stock-to-flow ratio
$200,000 as per crypto analyst Will Woo
$300,000 as per Citibank report
$400,000 as per Guggenheim assessment
$500,000 as per Cathie Wood of ARK Investments
And there are a lot of predictions that put the bitcoin price over a quarter million dollars.
If you believe in the most conservative of these predictions and expect bitcoin to hit $100,000, how does it matter if you buy it at $15,000 or $25,000, you are going to be happy.
Using this perspective one might conclude to HODL bitcoin into 2021.
Perspective 2: Elliot 5th wave view
Seasoned traders who understand the charts and are experts at trends believe that we are on the third wave of the Elliot’s 5 wave pattern.
These traders believe that bitcoin will shoot higher between $30,000 to $36,000 by the time we reach the 5th wave and then correct.
They think that the correction after the 5th wave will be nasty although they expect bitcoin to recover immediately after the correction.
Will that recovery lead to another major bull run to carry us into the $100,000 zone? These traders are not so sure.
Using this perspective, one might be tempted to cash out profits in bitcoin in the $30,000+ zone.
Perspective 3: Global macro market crash and bitcoin
With Corona virus variant 2 making waves on the news, what will happen to the economies around the globe?
This pandemic’s 2020 effect itself will have lasting impact on global economies, what happens if a second wave happens?
What if the economies continue to lag and people become desperate?
If people lose jobs or panic sets in, we could see people liquidating their crypto assets into fiat currencies until things come back to normalcy.
Under this perspective, one might infer that cashing out profits is the wise thing to do.
Perspective 4: Inflation and crashing fiat
From the looks of it, governments around the world seem to be poised to go through another round of stimulus.
If the fiat printing machines keep at it, it is quite possible that bitcoin’s value in fiat terms will continue to shoot up and up, with no real cap.
What good will it do if you cash out profits in fiat if that fiat keeps losing its value?
Inflation has a lot of investors and companies flocking to safe haven assets and Bitcoin has been gaining momentum as Gold 2.0.
We have already seen a lot of people in Argentina who bought Bitcoin to hedge against inflation have been rewarded handsomely while those who kept their savings in fiat got burned quite bad.
Under this perspective, whether or not there will be a correction in bitcoin prices, cashing out into fiat seems foolhardy.
Perspective 5: Devaluation of fiat currency
What if countries come together and devalue their currencies. Countries could devalue their currency to increase exports and decrease imports.
Devaluation can also be used as a tool to manage excessive debt.
Can it happen?
It is possible but not probable.
But if it were to happen, Bitcoin’s price will automatically increase in fiat terms.
It may send people in overdrive to get hands on bitcoin at any price.
Under this perspective, it not only makes sense to HODL but to continue to accumulate irrespective of bitcoin prices in fiat.
What are you going to do with your bitcoin?
Thank you for reading and sharing this article. We appreciate you.
Stay safe and healthy!
IMPORTANT DISCLAIMER
Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.
We do not endorse or guarantee the accuracy of the information and claims made.
All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
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CryptoSpace
If You Use CoinMarketCap: Read This at Once
Published
1 day agoon
December 30, 2020By
cryptotapas
Ever since we have been touched by cryptos in 2017, we have been visiting CoinMarketCap (CMC) every single day. To say we visit CMC religiously is an understatement.
We were happy when Binance bought CMC for a whopping $400 Billion because we expected CMC to become more friendly, useful and efficient.
We were wrong on all counts.
The site, as it stands today, is not friendly, useful or even efficient.
Let us explain with a few examples.
If you go check any project (may be not top 100) – you will notice that the information on CMC is absolute garbage and misleading.
For instance, if you check Jarvis details on CMC today, this is what you see.
However, if you check the details of the same project on Coingecko, here is what you find.
Notice anything?
Let us point a few things right off the bat.
Name itself is wrong on the CMC, because JRT stands for Jarvis Reward Token not Jarvis Network.
Let’s leave that as be, check the total circulating and total supply section. CMC shows 29,005,880 vs. 89,126,145 shown on Coingecko.
That makes a huge difference.
Even the maximum supply information is not available on CMC.
Here is the biggest issue of all. Marketcap on CMC is wrong because their circulating supply is wrong. So if you were going to go into a project thinking the market cap is just under 2 Million, you would have been off by 300%.
Excuses are all BS
If CMC cannot get the basic information right, I am not sure what that $400 million valuation was for.
Maybe CMC should start slapping a big red bold warning on the top of their web page stating “Information is WRONG” so that it doesn’t burn the investors with false information.
Alternative?
We are not paid to say this but we think Coingecko has been a great alternative to CMC.
Probably, it would be more accurate if we said “a great replacement” to CMC.
This does not mean Coingecko will not have errors, it might, however, just comparing over a dozen projects on CMC and Coingecko, we are now going to start using Coingecko going forward.
We might permanently abandon CMC, who knows, unless they get their act together and spend some of that $400 Million in actually making the data on the website more accurate and useful.
In our opinion, CMC should really focus on getting their core functionality right instead of spreading their arms around chat, subscription, etc., add ons.
For all crypto users out there, check the information on both CMC and Coingecko from now on before making any rational decisions based on the data points.
Stay vigilant.
Thank you for reading and sharing this article. We appreciate you.
Stay safe and healthy!
IMPORTANT DISCLAIMER
Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.
We do not endorse or guarantee the accuracy of the information and claims made.
All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
CryptoSpace
Beware of this Ongoing Uniswap Airdrop Scam
Published
2 days agoon
December 29, 2020By
cryptotapas
There is a new scam in the Crypto scam. And it looks legit.
It is taking place as we speak. Stay vigilant and keep your private keys private.
Where is this scam happening?
Scam is taking place on multiple websites that have been cloned to lure consumers to part their Ethereum (and other ERC20 tokens) to scammers.
For instance, this active site called Uniswap Airdrop (uniswap-defi.com) unashamedly asks users to link their Ethereum wallet using private keys.
NEVER share your private keys with anyone.
What is the scam?
The site claims that they are Airdropping Uniswap tokens to Ethereum holders. Text goes something like below.
Once the unassuming victim enters their crypto details, they ask for the private keys on the next screen.
There is no free UNI and once the victim enters their private keys, scammers simply clean out their entire wallets.
YouTube comments, Twitter clones, nothing is spared by scammers
These scammers are using all types of social media channels where the crypto crowd hangs out. For instance, they are targeting: Telegram channels, YouTube comments, Twitter handles, etc.,
They have cloned a lot of legitimate Twitter handles and YouTube comments to lure people into this scam.
Be careful
Never share your private keys with anyone.
Never send any of your hard earned crypto to anyone – there are no free-giveaways.
Update:
1inch Exchange giveaway Scam
We are also seeing 1Inch scam in similar fashion
Stay vigilant.
Thank you for reading and sharing this article. We appreciate you.
Stay safe and healthy!
IMPORTANT DISCLAIMER
Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.
We do not endorse or guarantee the accuracy of the information and claims made.
All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.
CryptoSpace
Projects to Keep an Eye on Going into 2021
Published
6 days agoon
December 25, 2020By
cryptotapas
We have been wrong numerous times about our calls but that is not going to deter from looking forward to 2021.
So, here we go with the 2021 project call out. DYOR before investing your hard earned money.
We understand not everyone has the same level of patience or resilience for excruciating pain of financial loss, so tread in fashion what suits you.
Quick note: Below list is not the same as the projects we picked in this FREE report. Below is looking at 2021 and the report lists projects that have longer term potential.
Here are the projects that we are keeping an eye on for 2021 (we are hoping these could break out in a meaningful way before the end of 2021).
Bitcoin: The king of crypto might continue to surprise people by reaching the elusive $50,000 mark in 2021. Whether it reaches that mark or not, it continues to be a great entry into crypto, in our opinion.
Polkadot: DOT is trying to get what Ethereum has gotten wrong. Will DOT replace Ethereum? In our opinion, no. Ethereum has the first mover advantage that is difficult to surpass, however, blockchain is going to emerge into a trillion(s) dollar industry that will have space for more than many projects to succeed.
VeChain: This sleeping giant, in our opinion, continues its sideway journey as we head into 2021. We suspect more partnerships and more use cases will bring the deserved attention to this mammoth of a project in the supply chain space, one of the more amazing use-cases of blockchain. Success of VeChain will directly contribute to the success of blockchain space at a macro level.
ICON: ICON went from 45 cents to $15. Since then, it has been doing dead cat bounce once-in-a-while at a sub 50 cents level. However, heading into 2021, we might see much needed spotlight on this project with DeFi, staking and interoperability models.
The Graph: Labeled as the Google of the blockchain world which has been in works for over 3 years has made a surprising entry into major exchanges like Coinbase, Binance, Kraken, KuCoin, etc., Project with Coinbase ventures as one of the investors might be Chainlink in the making in the world of indexing blockchain data.
Enjin: We love Enjin. It is going after one of the most lucrative spaces with an immediate use case for crypto: Gaming. Enjin may also shine in bringing NFTs to the masses and succeed in a big way. At least, that’s what we are speculating.
Honorable mentions
Ethereum: First mover. Tremendous partnerships. Staking with ETH 2.0. DeFi projects on top of Ethereum. These are some reasons why Ethereum could surprise people.
Uniswap: DeFi success may directly contribute to Uniswaps success in 2021.
Chainlink: King of oracles in the blockchain may continue its upward trajectory in 2021. Will the gains be as big of multipliers as they have been 2020, probably not.
BAT: Digital ad space, rewarding users for using the browser, ever increasing publisher and user base, buy-back of BAT by the company. There are so many things going right for this project, except, it has not garnered the attention it truly deserves. Things might be different in 2021. At least one can hope.
Those are the projects that we are keeping an eye on and continue to dollar cost average our way into. What are our gems? Share with the world.
Thank you for reading and sharing this article. We appreciate you.
Stay safe and healthy!
IMPORTANT DISCLAIMER
Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.
We do not endorse or guarantee the accuracy of the information and claims made.
All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.


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