And the ASX 200 went up14 points yesterday. Big deal. Yawn.
If you want to know why punters, speculators and dreamers are
pouring into the crypto market right now, just look at Litecoin and
These two have rocketed up 68% and 28% in the last 24 hours, as
I write this morning.
These are two of the bigger coins on the market. So it didnt
even take much imagination or research to buy them.
We had Ethereum in our original Secret $20 Bitcoin Blueprint. Its now doubled
While the potential gains come this high and this fast, the
number of accounts opening up all over the world is unlikely to
The Coinbase exchange is a proxy for industry user growth. Last
year, it had under five million accounts. It now has over 13
On 1 November, I jotted down in my notes that Reddits bitcoin
forum had 380,000 readers.
It now has 530,000.
Why is this going to stop anytime soon?
The wisdom of the beauty
A knowledge of Asian culture and being under 35 is a huge help
in this market.
Thats because most bitcoin trading is coming from Japan and
South Korea right now.
Also consider something like this.
Tencents WeChat app dominates Chinas online economy. Theres an
entire generation accustomed to using mobile and online as a way of
Why would cryptos feel anything but normal in this
One problem for us in Australia, as usual, is that we are
basically irrelevant to the market.
It doesnt mean we cant participate, but the main trend drivers
US analyst Tom Lee is a credible voice here. Hes certainly been
correct on the recent bitcoin rally.
Recently, he made the point that the baby boomer generation
drove US stocks from 1982 until 1999.
The millennial generation across multiple countries could do the
same thing with the crypto market.
Cryptos are intuitive for this generation to understand.
Theyre digital natives, as the lingo goes.
Companies will appeal to them in this way by issuing their own
digital coins, rewarding users with loyalty tokens, and designing
whole products around this ecosystem.
The flywheel is in motion here, and nothings going to stop
It reminds me of wh...