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Why the Crypto Market Crashed

By Jeff Brown, Editor, The Near Future Report

It’s not just stocks that have been having a volatile few weeks. The cryptocurrency market plummeted in early 2018, too.
Below, Jeff reveals what’s behind the crypto crash, and how you can profit securely from a rebound.


I’ll be the first to say it. The run-up in many cryptocurrencies last year was nothing short of spectacular.

The entire cryptocurrency market cap shot up 3,224% in 2017.

Chart

2017 was good for crypto investors. But in the last few months, we’ve experienced a serious pullback.

Take a look at the cryptocurrency market cap through today.

Chart

After climbing to $836 billion in early January, the entire cryptocurrency market cap plummeted 47% to around $450 billion in under two months.

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The Cause of the Correction

Much of the gains last year were a result of more than 100 different crypto hedge funds launching in 2016 and 2017. At the end of last year, many of these funds were sitting on significant returns on their invested capital.

They’re well incentivized to take a certain portion of those profits off the table. So they took the opportunity to book returns for their investors and for their limited partners.

These realized gains are also directly tied to the bonuses they receive.

As a result, you saw quite a bit of profit-taking in late December. That’s when we saw pullbacks of 40% and more in the price of many cryptos.

Then, in January, rumors started to swirl that the Chinese government would order a domestic shutdown of bitcoin mining activities. That didn’t help.

The so-called miners are participants on the bitcoin network that verify transactions and are rewarded for their efforts with new bitcoins.

Most people don’t know this, but more than half of the “hash power” – the computing power dedicated to mining bitcoin – is controlled by just three miners. And all three are based in mainland China.

If the Chinese government were to take offline more than half of the computing power that keeps the bitcoin network up and running, it would slow down the network to the point of making it unusable.

The network would eventually adjust, as miners move to more crypto-friendly jurisdictions. But that would take some time.

In addition, we had reports that the South Korean government would ban crypto trading.

As it turns out, the restrictions are going to be limited to anonymous trading. Seoul, reasonably enough, doesn’t want crypto trading to facilitate money laundering.

Going through these sorts of pullbacks can be painful. You might be tempted to cash out of the crypto market altogether.

But I’m here to tell you that that would be a mistake.

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A Long Way to Run

Looking at the drop earlier this year, you may be thinking that the run is over. But as I’ve been telling readers of my technology trends investment letter, The Near Future Report, it’s not. Not even close.

Although we’ve seen some serious pullbacks and higher-than-normal levels of volatility, the long-term direction for cryptos is higher… much higher.

That’s because the technology that cryptos are built around – the blockchain – will revolutionize the world in the same way the internet has done over the last 20 years.

[Editor’s Note: Blockchains are distributed ledgers. Instead of there just being one copy of the transactions in a ledger, there are complete copies across a network.]

Blockchain technology – the technology that bitcoin is based on – is valuable because it is cryptographically secure, which enables secure transactions. It is also impossible to duplicate or forge records on a blockchain once they’ve been added.

Once a transaction has been added to a blockchain, it is permanent… as though it were a 100-million-year-old insect preserved in amber.

And because blockchain networks are, by definition, decentralized, there is no single point of failure or need for any trusted third party to vouch for the veracity of the records.

This technology is being used to solve real-world problems. Not virtual problems.

Real-world problems such as reducing the cost of financial transactions… accelerating the time it takes to send remittances overseas… eliminating middlemen and rent-seekers.

These things provide immense utility for businesses and consumers. And that’s why blockchain technology – and the crypto assets associated with it – is not going anywhere. That’s also why the best projects are going to continue to appreciate.

Learning From History

Last December, I wrote to you about the soaring crypto market. At the time, I compared the action in cryptocurrencies to the run-up in internet companies during the late ’90s.

I warned that we would “undoubtedly experience some pullbacks” along the way.

And that’s what we’ve seen. Bitcoin fell by nearly 50% from its record high of $20,036 in December. And the total value of all crypto assets is down by about 50% since its peak at the start of this year.

In the late 1990s, runaway optimism for internet technology created a bubble. And of course, that bubble burst at the end of the decade.

But despite all these ups and downs, the internet ended up revolutionizing the way we communicate, conduct business, work, transact, and shop – just as the early web evangelists said it would.

The dot-coms that did not prove to be useful over time disappeared. But those that solved real-world problems – like how to find buyers for secondhand goods (eBay)… or how to download and read books instantly and get same-day online delivery of groceries and other items (Amazon) – thrived.

Folks who stuck with dot-coms that solved real-world problems did extraordinarily well. Amazon is up more than 78,000% since June 1997. And eBay is up more than 4,900% since October 1998.

I recommend taking the time to educate yourself and invest in cryptocurrencies that are solving real-world problems. These will be your safest way to profit from the blockchain revolution.

By focusing on assets that provide invaluable utility, you’ll position yourself to profit as blockchain technology transforms entire industries.

[Ed.note: If you’re new to the bitcoin craze and you’re thinking about investing, the first thing you have to do is figure out what it is. If you can’t explain what bitcoin is to your mom or your neighbor and why you’re investing in it and why you think it’s a good investment, then it’s too soon for you to put your money in.

But with an investment like bitcoin, no one really knows where it’s going to go. It could go to $150,000. But it could also go to zero.

The Palm Beach Confidential review has more in-depth information about investing into cryptocurrencies.

To find out more about your options check out the review of Teeka Tiwari Palm Beach Confidential Newsletter.]