Curious how much demand there might be out there still for cryptocurrencies?
The Robinhood Trading App reported that over 1 million people have already signed up to be put on their wait list for cryptocurrency trading.
That sounds awesome right?
But wait, it gets better...
Over a million people have signed up in LESS THAN 4 DAYS!
How's that for demand?!
For some perspective...
The Robinhood App had roughly 3 million users prior. Which means that they would see over a 33% increase in their user base in just 4 days.
Now that is some serious growth!
I wrote a little about some of the specifics on how it will be rolled out a few days ago and can be read here:
https://steemit.com/cryptocurrency/@jrcornel/today-crypto-just-became-a-little-more-mainstream
A tidal wave is coming?
Blockchain Capital co-founder Bart Stephens had this to say in response to the figures:
"To me, this speaks to a generational interest in crypto."
And then also this...
"I think we're going to be seeing more and more of these on-ramps. I think this is the beginning of a huge wave embracing this asset class."
A huge wave embracing this asset class?
Yes please.
Stay informed my friends.
Follow me: @jrcornel
Just wait utill India enters the space with both feet. We're talking hundreds of millions of people with smartphones: https://www.statista.com/statistics/467163/forecast-of-smartphone-users-in-india/
1 million in such a low amount of time?
Robinhood is definitely happy with their great decision of including crypto on their platform.
A lot of money will be coming in, so the 1 Trillion dollars market cap might be a reality in the next months!
I was thinking the same exact thing! This is going to be huge, such a big unexpected move by RobinHood. I cant wait to see what happends with this.
People are excited for it, that's good but the thing is interesting would be to see how they react if we have a bubble burst.
it can't be called a bubble if you didn't pay money for crypto but rather gained it ala Steemit
FYI it can still be called a bubble, if the valuation of a particular asset is solely dependent on demand.
it is ALWAYS dependent on demand.
Even on steemit you are not gaining it for free. You are not winning it in lottery. You are putting effor in your writing and then you become able to generate some cash. Again it is given you on market value, so I think we can still call it a bubble.
In order to win in a lottery, you still pay for a ticket. You don't pay anything for posting on Steemit.
Yes that's true so what you would say if someone is earing over the vlogs what he/she uploads on youtube?
double pay with no cost? XD
There is no "bubble" in tech adoption. There is only users and non-users. If it's a good technology, most people will use it. Look at the growth rate of cell phones, or microwaves, or cars... all S curves tapering off as more people use them. Eventually everyone will be using crypto, just as everyone will be using cell phones.
This makes me think that the current correction we're in won't be too extended. I posted an important update on Bitcoin here:
Bitcoin (BTC) Update - Analysis
https://steemit.com/bitcoin/@benkalashnikov/bitcoin-btc-update-analysis
My thoughts as well. I'm prepared for a dip down to $8k-$6k, but I'm hoping it never comes.
Though Robinhood interest is a good news, however, we touched a local, long term peak at Bitcoin $19.8K, end of bull run for this time. It is still in correction mode, it is quite possible to sideways move from $8-12K until a big correction at $6K and then another bull run that will see new ATH at $20K and more. How long we will see another ATH, who knows- 1 month, 3 months or a year? My gut says that we will stay in bear mode for another 4-6 months.
I am all signed up and waiting to fund my account. I will report back when I make my first transaction. Wish me luck!
Hey jrcornel, appreciate your posts, thanks for contributing to the community! I think a lot of participants in the crypto-revolution need to study Statistics to gain further insight. A lot of important information can be garnered, such as the patent fallacy of using "Market Capitalization" (which cannot be applied to a currency at all, only a business entity) as an indicator in digital currency, as well as drawing inferences based on convenient-sampling method (saying cryptos will grow at the rate of 2017, without taking 2009-2016 data into account, for example).
There is still a steep learning curve for participants, despite applications like Robinhood and the seemingly easy profits many have seen by doing absolutely nothing last year. IMHO by 2020, we will have proper mainstream adoption (with commensurate price stability for many assets), until then, its like the wild west!
Great comment and I agree, though I think it might be slightly sooner. I think there is going to be a lot of headway in that direction this year and next. Regulations are coming and they are going to help the masses get in and feel much safer doing so.
that sounds very promising!
thanks for sharing
Cryptocurrency, most of the exchanges are having tremendous growth.
I heard Coinbase made close to a $Bil. I'm sure 2018 is going to be even better.
The crypto revolution is about to hit 2nd gear
That's the truth..
the revolution is just beginning.
Absolutely yes, waiting Robinhood
indeed
What would you guys suggest to start learning? How can I put $5-$30 in to test it out? I just want it all to be anon, I'm just about done with credit cards recording every single thing I buy. Do you guys really think cryptos will go up much more? Will bitcoin go over 20k for almost sure?