The Crypto Space Can Be a Puke-Inducing Roller Coaster Ride, And I'm Not Getting Off It Any Time Soon

by SGT, SGT Report.com:

I have been listening to Clif High discuss his web bot data about the coming explosion in the price of silver for years. Since 2008 to be exact.

But approximately two years ago I began to find his predictions about crypto currencies far more intriguing.

I knew that the Wall Street #vipers had a many-decades long lockdown on the price movements of silver and gold via their Comex paper market, which is why Clif continues to be proven wrong about $1,000 silver. After all, why take delivery of, or settle in PHYSICAL gold or silver when you can simply bet on the price moves of the metals - which your banker buddies at HSBC fix - and then settle in cash? It's so much easier than dealing with Brinks trucks filled with metal. And electronic cash certainly weighs a hell of a lot less.

We all know the fix has been in on silver and gold since, well forever. With the Rothschilds quite literally "fixing" the prices of gold and silver twice daily in the City of London up until 2004.

Rothschild to pull out of gold market after 200 years
http://www.telegraph.co.uk/finance/markets/2883029/Rothschild-to-pull-out-of-gold-market-after-200-years.html

And the prices are still "fixed" there today, every day by a handful of international banks which collude to "fix" the price of two of the world's most precious metals.

I entered into the crypto space in the early Spring of 2016. Clif had long been predicting a Bitcoin price of $13,800 by January, 2018. It was late March if memory serves, and Bitcoin was hovering in the mid $400's. It was on the rise after a long consolidation period coming off its previous high of around $1,000 in 2013. I knew if I didn't buy some, and it broke through that old high and began running, I'd have that vomit inducing feeling in my gut again, like missing out on Apple and Netflix despite telling my poker buddies they were the "buys of the century" at $12 in 2001 and $14 in 2006 - and allowing myself to get talked out of what I knew to be true.

So I opened a Coinbase account and bought some Bitcoin. And stared at the price quote on the screen of this thing called "Ethereum", the only other coin Coinbase offered, which sat at $7 for months. Ethereum finally began to move and before long it was at $21. I bought some purely out of FOMO. By the time I researched it and realized what an idiot I was for not buying Ethereum at $7, it was already at $40, so I bought some more. And I kept buying it right up to $100.

Then Coinbase added Litecoin and I immediately bought 20 of them since I "learned my lesson" with Ethereum. Then I researched it and realized it was faster and in many ways better than Bitcoin for actual transactions. So I ran it by a friend of mine who had been in cryptos far longer, I explained to him why I thought it was a great buy at $21-22 - and he promptly talked me out of it. "Litecoin has made a HUGE move already" he said, "I think it's over valued here."

If there's one thing I can impress on you with this article, it's this: Do your OWN research and go with your gut. I can't even begin to tell you how many winning lottery tickets I have left on the ground because I have had "friends" talk me out of my investment ideas.

Litecoin soon vaulted to $30 and I bought some, but far fewer of them than I would have when it was at $20 had my friend simply said "Great idea!"

It went to $50, I bought some more. And it hasn't stopped running since. And now there are rumors (*and some evidence) which suggest that a big player - potentially Facebook - will soon announce partnership with Litecoin as a form of payment.

*LitePay
https://www.litepay.us/

Jsnip4, Joe on You Tube has recently had his friend "Trader Boss" on who is calling for a near term price of $500-600 for Litecoin, and a price of several thousand dollars in 2018.

These are heady times.

And then today's BLACK FRIDAY crypto crash. A crash which followed down days every day this week in Bitcoin, ever since last Sunday night's CME Bitcoin futures launch.

As our friend Turd Ferguson at TF metals asked today, "Coincidence?"

According to Zero Hedge, this was " the most aggressive drop in Bitcoin in almost three years (plunging 37% from its highs in 5 days)"

But I've been through gut-wrenching sky dives in the cryptos many times before, so you know, HODL.

On days like these you either embrace your thesis, or you panic sell into stronger hands.

Although I can't prove it, I think this week's action was a criminal banking induced Bitcoin sell off culminating in today's cliff dive below $10,000. However, with the criminals on Wall Street now home for the holidays - or worshipping Satan and sacrificing children for the next few days - Bitcoin will get a much needed reprieve. And as of this writing it has already rebounded to $14,500.

Clif High has been predicting a Bitcoin price of $40,000 by summer. I'll HODL and see if he won't be proven right yet again.

By the way, once on board the crypto-train with BTC, ETH and LTC, I did more research which led me to add the following alt-coins to my "portfolio".

BMC
CDX
CVC
EOS
IOTA
NEO
OMG
PAY
PLR
PPT
SALT
SNT

As always, conduct your own due diligence before investing a nickel in anything. Happy investing. If you have any crypto advice or investment ideas please share them in the comments below. I missed out big time on DASH, if there are any other sleeping giants that you think I'm missing out on, please share!

And thanks for UPvoting this article!

Here's my interview with Clif High from August of this year:

BITCOIN: $13,800 & BEYOND?