• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

Cryptos Roaring Back, But For How Long?

By Kurt Osterberg · On April 17, 2018

As predicted towards the end of last year, Cryptos have trended lower—much lower—throughout the first few months of 2018.

From a contrarian investor’s perspective, this came as no surprise, as the masses rushed into the streets and those who scarcely could say the word “Cryptocurrency” dove in with both feet.

This is always a red-hot warning sign. Especially when compounded with the fact that the majority of those joining the party in the late hours were saying that “it can never go down”, “Lambo’s for all!”, and other statements that are frequently made near a bubble top.

Yet, as also predicted, Cryptos are now beginning to move higher —and in a significant way. This is largely due to the easing of pressure as the tax season within the United States comes to a close. Those who sold for accounting purposes are now taking renewed positions. 

Bitcoin, leading the charge, is heading towards its best week in four months, up over a whopping 25% this week alone! 

Still, the fear of the taxman cannot be overstated. Countless investors have skirted the law and avoided paying their taxes, a fact I pointed out in a previous article. The IRS has taken a keen interest, showcased by their recent crackdown on Coinbase users. 

Perhaps the recent lows have formed a new support level, and we are destined to move higher from this point forward, as seen from the recent enthusiasm returning to the Crypto space. Or perhaps not. It is far too early to tell. 

Regardless of what happens in the short term, I believe Cryptos will be stuck in a sideways trading pattern, at least for the next year to two years, eventually returning to and testing their old highs. 

What is, however, starting to solidify is the second part of the prediction I made during the latter days of 2017. This is that funds diverted away from the precious metals space will begin to find their way back throughout 2018, as those who made large profits from Cryptos look for the next best opportunity. 

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

  • Finance

    NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

  • Finance

    5 NFTs Trending on Twitter Going Cheap to Invest in Now

No Comments

Leave a reply Cancel reply

Top Finance

  • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
  • What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage
  • Hedge Funds In The US Hedge Funds In The US
  • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement
  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

New Posts

  • STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

    STEPN Sneaker NFTs Sell For $100, Previously Worth $1200

    June 20, 2022
  • NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

    NFT Prices in Free Fall – 5 NFT Collections to Start Buying Today

    June 20, 2022
  • 5 NFTs Trending on Twitter Going Cheap to Invest in Now

    5 NFTs Trending on Twitter Going Cheap to Invest in Now

    June 20, 2022
  • Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

    Bill Gates – ‘NFTs & Crypto Based on Greater Fool Theory’

    June 20, 2022
  • Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

    Actor Seth Green Pays $300,000 to Recover his Stolen BAYC NFT

    June 20, 2022
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.