Greetings, fellow crypto enthusiasts. We bet you’re having fun this week.
Crypto has gone mainstream, there’s no doubting that. First the Cboe launched Bitcoin futures, then the CME followed suit. As a result, there was no way you could flip on CNBC and NOT see someone talking crypto.
Even Janet Yellen got into the act (thanks to a question from a CNBC reporter) during her most recent news conference:
Yellen on Bitcoin: “plays a very small role in the payments system… it is not a stable store of value…The Fed doesn’t really play any regulatory role with respect to Bitcoin.”
— Dave Van de Walle (@Area224) December 13, 2017
Throw in Coinbase, (broken record here, but use that REFERRAL LINK and we both get a bonus with a qualifying purchase) which hasn’t told us how quickly it’s adding users since it told us it has more users than Charles Schwab; likely because Coinbase is so busy adding users that it doesn’t have time to promote its own ability to add users.
This Brings Us to the Big 3
Coinbase started with Bitcoin, then added Ethereum, then, most recently, Litecoin. If the company is adding users quickly, and those are the only coins you can get there – for now, rumors of Ripple, Monero, Dash, and more have been swirling for some time – it follows, perhaps, that new money will chase each of the Big 3 to new heights.
So, who hits their milestone first? Let’s handicap the field.
Below odds are of the milestone happening this year, thus the one with the best odds is then the one likeliest to happen first.
Bitcoin $20,000 – Odds: 2 to 5
We talked about this on the site a little while back and we have the tendency to keep hitting refresh. thinking that the pop is right around the corner.
And think about it: holiday money flows into the youth of today and they head straight online to spend it. With Hanukkah wrapping up and Christmas days away, Bitcoin’s 20K should happen in no time flat.
Ethereum $1,000 – Odds: Even Money
We think this should happen sorta quickly, but there’s always a chance that new money doesn’t flow into Ethereum as much as the other two. First up, once folks realize they can buy a fraction of Bitcoin, they buy a fraction of Bitcoin. Or they go with the cheapest one – Litecoin in this case.
The flipside, though: when ordering wine at a restaurant, newbies will rarely get the most expensive, nor the cheapest. Right in the middle – thus, Ethereum.
Frankly, we probably wouldn’t have been having this discussion last week. A price of $619 seems a world away from $1000. Now, though, not a leap by any stretch.
Litecoin $500 – Odds: 9 to 5
We actually chose “9 to 5” because Litecoin seems like the lunchpail coin to us. Punch the clock, get the work done. Utility is great. Transaction fees are lower than Bitcoin – Coinbase transactions where you sell some and cash the proceeds into (dreaded) fiat (US Dollars in our case) were $2.99, compared to around $6 for our last transaction with Bitcoin.
That chart shows some tremendous growth during the past month – and, if you compared it to a high-flying stock, people would ask “what the heck happened?” Probably nothing other than typical mania, right?
Or maybe a coin that’s got tremendous potential for everyday transactions.
It’s Possible that All 3 Hit Milestones…
We’ll have to watch and see. Place your bets!
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