hat Bitcoin was going to reach almost $20,000 in 2017? What makes cryptocurrencies special is the fact that it is highly volatile and speculative in nature. And for this reason, different experts have different opinions regarding Bitcoin and other cryptocurrencies.
If you will ask the likes of Bill Gates and Warren Buffet, both have expressed negative sentiments about cryptocurrencies. Buffet even compared Bitcoin to rat poison, while Bill Gates mentioned that he would short it if he could.
If you will ask Ex-NFL star Ricky Williams who has been studying astrology lately, he would give you an unorthodox financial advice. After his career in football, he spent some time studying the likes of holistic medicine and astrology. He mentioned on CNBC that it was actually the cosmos telling him to invest in cryptocurrencies.
He said that “When I look at things, I tend to look at astrology to get insights”. It was his astrological charts that made him choose to invest in Bitcoin. He further explained that “The insight that got me interested in Bitcoin was the planet Uranus is about to enter into Taurus”. He explained that Uranus “is about revolution”. He said that Uranus represents a change in how people do things. He added that “it’s about innovation”. As for Taurus, he described it “about resources and finances”.
He further explained that Pluto is passing through the astrological sign Capricorn. He explained that this means “structures, like banks, for instance”.
He then came up with a conclusion saying that “I think as people are starting to become disillusioned with our institutions, that things like blockchain and cryptocurrency, it’s the perfect time for them to catch fire and really change the way we do things. So you know, I had to get a little piece of that action”.
And he is the type who puts his money where his mouth is. He made no more than $50,000 worth of his own money on Bitcoin. He also mentioned that “I didn’t want to go crazy”.
He isn’t exactly concerned regarding the ups and downs of Bitcoin. He said that “especially with the planet Uranus and change, it’s always going to be volatile in the beginning”.
Regardless of the unconventional methods used by Williams, the drop in price was actually caused by the regulatory changes applied to the cryptocurrency market. And now that the crypto market seemed to have survived everything, it seems that institutional investors are ready to move closer.
Goldman Sachs and even the parent company of NYSE are now moving towards the direction of cryptocurrencies.
There is really no way of predicting cryptocurrencies. Considering how the market is also prone to market manipulation by whales, Williams is correct after all that ups and downs are expected especially in the beginning. And at this point, the crypto market is still young. There are thousands of cryptocurrencies today. There is a likelihood that majority of these digital currencies are going to lose their value sooner or later.
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