Cryptocurrency Price Predictions for October 2017!
Which cryptocurrency is the best to buy, sell and hold today? What will the price of Bitcoin, Ethereum, Litecoin, ETC, Dash, BCH, Ripple, NEM, Monero, IOTA, NEO, OMG, Lisk, BitConnect, Qtum, Stratis, Zcash, Waves, XLM and Steem be in October 2017? I hope this post answers these questions and makes trading on Bittrex, Poloniex, Coinbase, Bitfinex and Bitstamp easier for these digital currencies in October 2017!
Quick Cryptocurrency Price Predictions October 2017!
What to buy?
I want to buy about $10,000 more of Steem. My wife, after months, is finally going to put some in herself, she volunteered and I'm so excited, "Oh my God, I want to buy the Steem for you."
I need to go buy that as soon as possible because I keep putting things out, and then when I want to go buy more, the price is up like 20%, and I feel like, "What the hell happened?"
"Oh, I just put a video up earlier, and now the price bumped. I'm going to go buy that before I put this video up this time, instead of after."
Do you think I'm some super smart wizard genius?
Yes, I don't even think to buy stuff right before I pump it.
I personally am holding Steem and it is my number one buy. That is the only thing I'm holding because I'm a one cryptocurrency man.
I think Steem is the most incredible thing ever for cryptocurrency, this is the one that allows the entire market or 99% of the people that have no money to invest, to actually contribute and earn decent with Steem.
I have all my money in Steem, $65,000, as you can see in he image below.
There we go, that's my full disclosure.
I am like a one cryptocurrency man, similar to how I do marriage.
I think it is better if I just go all-in on one currency. I'm all-in on Steem, and I will keep saying buy Steem until it goes up to $10, which I think will happen within six months or less.
Now that we have got that out of the way, let's go in to all of the others.
BitShares, Ethereum Classic, SingularDTV, Zcash, Litecoin and Stellar Lumens
I think BitShares looks like a great buy right now. This is my second buy recommendation. BitShares went up as high as 40 cents, maybe even 45 cents before, and it has recently totally tanked down to 6.7 cents.
Ethereum Classic is another buy recommendation. It went up to $20 and it has tanked down to $10. I think it has some good potential if you realize that Ethereum may be having a lot of backlash over its proof of stake and recent changes, then it's a good time for people to switch to Ethereum Classic.
Ethereum is worth twenty something times, almost thirty times today, Ethereum Classic. There is a good opportunity there.
SingularDTV may be a good buy. I hear there are big plans to essentially compete with Netflix, get stars on board. The price is down about from the high of 24 cents, it might be a good buy or it might not.
I've seen comments on these videos, saying, "Jerry, I bought this, and I lost thousands of dollars."
If you follow any of this stuff, maybe this was the divine intervention you needed. Maybe this was the tip from the devil to get you to lose your hard earned money.
I already told you what I'm doing, I'm holding on buying all Steem. I'm all-in on Steem. If you buy some of these cryptocurrencies, you may make some money off them, I've seen a lot more comments of people saying, "Jerry, oh my God, I made so much money. Thank you."
However, you might lose money. I might be wrong.
Just want to sing right now:
"You may be right. I may be crazy."
"Hey, but it just might be a lunatic you're looking for."
Zcash recently tanked also down to $167. It had a huge hype launch and a crazy speculation. It has recently tanked and it might be a good time to buy some Zcash.
Litecoin just got added onto Bitstamp, along with Ethereum. Litecoin is good. I actually like Litecoin and use it to send payments. It is one of the main currencies I use just to make transactions. Litecoin just pumped up to $70 or $80, and just dumped back below $50, it might be a good time to buy.
Stellar Lumens just took a huge dump in price from 4 cents down under to one cent. It's a huge dump and might be a good buy. That might be totally wrong as well.
What to sell?
Now, let's see what to sell.
"Oh, Jerry, you said sell Dash, because you're so hurt. You sold it at $87."
Dash is up to $300 right now, and it just dropped a hundred dollars in one day, like it was no big deal. I think Dash has an epic drop coming, epic drop, but it's $300 right now. It's almost as high as it has ever been.
I say sell Dash if you have got it. Now, I might be wrong. Coinbase might stick Dash on next, and it might go to $1,000.
I think now is a really good time to sell Dash. Yes, I've been saying that since May when I sold my Dash at $87. I still think it's a good time and I still may be right or wrong, I don't know.
Monero, just did an epic pump, which I called in last month. I said Monero is in a good position to pump, and Monero pumped.
Now, did I make that happen?
Ego says, "Yes."
Humility says, "Maybe."
Alter ego says, "No, Maybe.”
After Monero's epic pump, it might be a good time to sell right now because it will likely slide back down a bit more as it corrects to maybe $60.
BitConnect is at $106, sell. We will leave it at that.
A ton more EOS is being created every single day and it's going to keep deflating.
EOS is continuing to go down in value because there's so much more of it being made, there's going to be almost a billion EOS available after the first year of its launch.
That means a lot of deflation. You might have bought it at $1, but even at 60 cents, I'd say sell. Take the loss and get out of it, unless you personally are doing something to market it and contribute to it.
PIVX is at $3.40, that's wild. I'm saying sell on PIVX also. I might be wrong, I might be right, but I'm saying sell on PIVX.
NEO helped me remember why I'm a one man cryptocurrency.
On one of my last live streams viewers encouraged me to buy NEO. I bought it at $30, and it proceeded to drop down to almost $10, maybe $15. Then, it went back up to $19. I sold my NEO and bought more Steem with it.
I think NEO has a good possibility in the future, but I don't see whether it's going to make into that very top. I think NEO could dump a bit more.
They may not be this high again for years.
Now, that's why I'm saying to sell these.
Would you be happy holding on to these if it took three years for the price to get back where it is now?
If Steem dumps and it takes three years to go back to $1, that's fine with me because I have absolute faith that Steem will be $10 plus someday. If it takes three years, it may go to $100 from $10. I will hold my Steem indefinitely.
What to hold?
Finally, these are my hold recommendations.
"Hold" means if you don't have any, don't buy any. If you do have some, hold on to it and see what happens because the Bitcoin price may go back up to $5,000, it may dump down to $2,000. There are tons of fear, uncertainty and doubt, which I have come to learn is called FUD.
What's the FUD?
I would say Bitcoin could easily gravitate between $3,000 and $4,000. There's not a clear case to buy or sell. Now, the hype machines, which have been sending tons of traffic to my videos have been saying, "It could go to $5,000 $10,000 or $20,000."
Yes, it could, but it might dump.
Bitcoin could dump down to $2,000 or $1,000 before it goes to $5,000, $10,000 or $20,000.
Most things don't go straight up.
Therefore I'm saying, whatever Bitcoin we have got now, it's probably a good thing to just hold on to it. It seems like it will be a very good long-term investment, but it may be worth a lot more in the future. Selling it right now, you might miss out on the long term, but buying in right now, there may be a much lower price. It's still up towards the high end of where it has been.
As you can see, the price can dump $500 in a day. If you really want to buy in to Bitcoin, wait for the next big dump. It just happened, several hundred dollars, but there easily could be another one right after that.
It's like when you have an argument in a relationship where you start getting into this pattern, and you just have the same argument over and over again.
Well, a lot of the drops for these currencies are the same way. There's one big drop, and then it comes back a little bit, then there's another big drop and it comes back a little bit, and then another big drop.
Now, I say "hold," if you want to invest long term with them. Most all of them are not good to just simply hold on to exchange and bet on the price.
By just holding Bitcoin in a wallet, you're essentially losing money every day if the price stays the same because every day more Bitcoin, Ethereum, Bitcoin Cash, Ripple, NEM, Waves and IOTA are being created on an ongoing basis.
I may be wrong on one of those currencies, I don't know everything. The idea is that all of them are in a good spot to hold right now.
If you're already holding some, they may go up significantly more or they may drop down significantly more. It's not a good time to buy into a lot of them.
Now, you might say, "Yes, Ethereum at $245, it could ride back up to $500."
It could, but it could also go down to $50 or $100.
If you remember, Bitcoin went over $1,000, and then dropped all the way down to $170. When Bitcoin was at $170 that was the time to buy, I bought 20 or 30 Bitcoin when it was at $170. I then panicked like a total noob that I was, and sold at $200 something. Then, I started buying back in at $300 and $400.
Now, it's almost never a good time to buy when the price is the highest it has ever been and yet, most of us want to buy when things are high. All of these I'd say are good things to hold.
Now, I've given you just the basics.
Cryptocurrency Price Predictions for October 2017 Explained
What I will do now is show some more of these graphs to explain why I recommend to buy, hold or sell.
These are my buy recommendations and I'm going to say, "Buy," every day on Steem until it reaches the $10 price.
I have a vision that Steem will be at $1,067 one day for one Steem. That's why I have 60,000 Steem today. Now, do the math, that's $60 million.
I think Steem is the only one of these cryptocurrencies that has true mass adoption potential because it's the only one I know of where it's easy or at least possible for a person with no money to start participating, to make an outstanding contribution and to actually earn good money off of it.
Now, some of these others are also good opportunities.
I've made a Word document so that next month I will compare my recommendations and score them with these exact prices.
We are all done with this Word document.
Now, let's get into the data.
I think a full disclosure is important for transparency. All these recommendations are guesses I've made because everyone's just guessing, that's the truth.
All my money is in Steem because it has a ton of organic traffic and has the most transactions.
If you look at my blog, you can actually essentially mine Steem by blogging. I make posts on Steem, this is just a blog.
These posts have a chance to get ranked very high in Google search and they have a chance to make money on Steem. Plus, the more Steem I have in my wallet, the more I can then upvote my own posts as I've shown a bunch of times in lots of my videos.
Now, I will show you one more thing about Steem, and then I will get into the details on the rest of these currencies because that's real, this is the one I'm holding.
I made this cryptocurrency price predictions post last month.
I will show you right now why Steem is so incredible. As an online marketer, I think that it's only going to take a few more people to catch on to this. A few more people, one or two more big investors who figure this out, and then it will be an absolute explosion in the price.
This is a massive post I have over here, a huge post.
Now, look at the number of views I have: 22,901 views, and I made this post only 24 days ago.
Now, this is a true equal opportunity because the whole website ranks high. If you do the same work that I do, if you make great posts on Steem, you can get a lot of people to find the posts.
That's why Steem is incredible
Now, I earned $159 on this post, which for me doesn't even cover the cost to get it transcribed and edited into a 10,000 or so word post, but look at that, these views are mostly from Google search.
Now, if you have tried to make a blog or a YouTube channel before, you know how hard it is to get views. You may realize that's hard to get those amount of views. This is what Steem does really well, not just the views, but the comments.
Look at all these comments and the one reason it ranks so well in search is also because of all these comments.
This is why I'm so pumped about Steem.
That's my number one investment. That's why I think Steem is going to actually be the number one cryptocurrency over Bitcoin in maybe three to five years.
There won't be any reason to hold Bitcoin when you can put it on Steem, when you can earn money upvoting your posts or other people's post, and earn money on interest.
It's crazy, that's why I have everything into it with all that I know.
But, I realize that you may not agree with me. You may have different investment objectives. Therefore, let's look at some of these currencies in more detail.
I suggested to hold Bitcoin and as you can see, it's towards the high end of where it's ever been before, making it very risky now. It did just take a big price drop.
If you look at some more long-term data, the Bitcoin price epically pumped to $1,149 in 2013.
Then, it took three years to reach that same price again and that's why I mentioned the three years earlier. It may take a lot longer to go up more. Most things in life don't just keep going up. In July, it went up to almost $3,000. It dropped down a bit, and then it went straight up to $4,000.
We don't know what part of this curve we're in, we may be towards the top or towards the bottom. It could go up to $10,000, or $20,000. There's a good chance though, that the higher, the more attention and interest it gets, the more problems that are attracted, the more naysayers, the more fight that encourages things to go back down.
The true value of Bitcoin has continued to go up a little bit at a time. The real price of Bitcoin probably should be about $2,000 right now. However, it could get speculated up a lot higher. Now, the price is going up faster and faster than the true value every day, and we're a little out of sync.
Ethereum has also exploded unbelievably, which is why I suggest to hold Ethereum.
Now, if you've noticed with the Bitcoin price going up, Ethereum has actually went down a lot relative to Bitcoin.
Even though the Ethereum price spiked really high to $400 before, relative to Bitcoin, it's actually been dropping, which leaves it very vulnerable if Bitcoin takes a big drop, Ethereum may take a big drop with it.
Bitcoin Cash is hoping that it can influence the Bitcoin price.
However, one of the things I believe I was wrong about last month, is my Bitcoin Cash prediction. If you look at the data, it looks like Bitcoin Cash may just essentially fade out from here. It may just continue to dump and dump overtime as people realize there's no point in having Bitcoin Cash alongside of Bitcoin. In fact, Bitcoin Cash may dump a whole lot down here.
There's a person who has a ton of Bitcoin Cash, hence controlling the Bitcoin mining. They are very powerful. They may be able to all by themselves, essentially get the price to go up a whole bunch, that's possible.
Ripple had a huge pump before, but you can see Ripple's Bitcoin price, even though the price of Bitcoin was lower in 2013, Ripple has actually been higher to the price of Bitcoin before. It was up as much as 8,000, and it's actually lower than it's been before.
Ripple had a huge amount of excitement and it's recently tanked, and then went back up. Whether it's going to go up or down, it might be a good time to hold.
Litecoin looks like it's in a really good spot to buy, because it just hit an epic pump.
As I recommended about a month ago, I said Litecoin was a very good buy, I said buy Litecoin, and it went up to almost $80 at one point.
Now, it really plunged almost to $32 in one day. Litecoin, may be a good buy again given that the new ceiling is at $70 or $80.
Now, keep in mind, I only recommend buying based on what I'm doing. I'm holding all of my Steem, because I'm not planning on selling it. I personally accept that I'm not up for trading.
Now, if you want to trade and just make money, then go for it. I think the best strategy is to buy and hold, and contribute to one community.
Some of these recommendations may very be based on the approach you are taking.
Now, let's look at Dash.
If you look at last month for Dash, this is a good insight. Dash, all of a sudden blows up with a one big buy. I think it was on Bithumb, the Korean exchange.
Then, see how fast it tanked. It was up to $384 for a while, and then suddenly, it drops down to $300. Then, all of a sudden, it drops down to a low of $221 in one day.
Dash almost lost half its value in just a couple of weeks. Dash is extremely vulnerable to a huge price drop because there's so much hype about Dash, and there's so little end user adoption according to the data I can see.
Now, there are lots of investors, companies and developers, but how many people are making real transactions with Dash?
One Dash didn't use to be that much. When I started using it, it was $10, but now it's $300, so that's a lot more. How many real transactions like sending a friend a little bit of Dash are taking place?
Dash right now, has a huge hype, huge excitement. It does very good at marketing, which means when the hype and excitement gets pierced by a huge price drop, I will be interested to see if Dash can survive the price drop, because most of us get used to things being a certain way.
When the Dash price goes through the death spiral, will it ever come back out?
When the Masternode budget, and the community members are used to having these huge amounts of money available to give out, will it ever come back from having none?
Steem is a great example of the death spiral. I really like Steem, because it already survived a huge death drop.
Steem got pumped to $4 a year ago, and it went down to seven cents. People still continued using it, not only that, but from seventy cents, when I joined and started pumping it, it went up to almost $3.
Now, it has gone back down, and the problem is mainly on Poloniex. Steem is a dollar right now and you can't even withdraw it on Poloniex.
Some of these currencies like Dash, are extremely vulnerable to lose a huge amount of value in a very short time because it only takes one Masternode owner who sees something bad coming to unload the 10 Masternodes they got, or maybe even 100 Masternodes. They just unload those at once, and the price might never come back, or it may take three years.
In my opinion, there might be some better ones to pick based on transactions, but in terms of ease of access and use, Dash potentially could get picked up and it could spike up to $500 or $600 before it drops.
I promoted Dash and hyped it up, so I'm an example of how that happened. I think it could go either way and it's a good one if you want to participate in the community. My friend Albert participates in the community. You might be able to get a budget, you might be able to get a part of the Masternode. I don't think Dash is very good to just buy and hold though. If you want to buy and hold a lot of it, you really need to have a Masternode to get that extra Dash every few days.
I called Monero exactly last month. I said right here on August 21 that Monero was a really good buy and was in a good position to pump at $54.
Right after that, it goes up to $90. Did that happen because of my video or is that complete coincidence? I don't know. Then, the price actually blew up after that to $150.
Now, the price is correcting a bit because I think it was a little low given that Monero seems to be the top choice for black market now, although Bitcoin is still number one, the use of Monero makes it a lot easier to do anonymous transactions. Apparently it's much easier than using Dash and the transactions are by default.
This is the main thing Monero has going for it, it's becoming a choice of the black market. Therefore, Monero might be a good time to sell now while it's at $93, but given that it's been up to $150, it could go even higher. I'm grateful I've got data to show that one so well.
A lot of these other cryptocurrencies are just sitting up here way too high and have almost no end users.
End users are what give the value of a currency.
Now if you look at Bitcoin, Etherium and Litecoin, they have value because millions of users have wallets.
There's probably under a thousand users of Dash that have wallets by now and it doesn't seem to be that many actual transactions each day.
The problem is that when you get deeper down into some of these cryptocurrencies, especially the new ones, there are very few actual users who are making true transactions with them.
Another reason I love Steem is that it is the number one currency in terms of transactions.
I believe that Steem has more transactions every day than Bitcoin and Etherium combined. That's a function of end users, this is a critical data point for Steem right here with 373,000 accounts.
That's why Steem is sweet, you can see how many actual accounts there are with it.
Some of these other currencies, you can go look at the transaction data.
On Blockchain.info, you can see how many transactions there are each day for Bitcoin, and this is what tends to give things value. If you look, there are hundreds of thousands of Bitcoin transactions per day.
If you look at this over a period of two years, what you will see is that the number of Bitcoin transactions have consistently went up, and especially if you look at it all time.
One of the bottom line values of a cryptocurrency is how many transactions take place with it.
If you look you'll see that Bitcoin initially there would be only hundreds of transactions per day, then up to thousands of transactions per day, then up to tens of thousands of transactions per day, then all of a sudden up to fifty thousands transactions a day, and now steadily increasing up to hundreds of thousands of transactions a day.
What you will notice is that for one of the first times, the transaction value of Bitcoin has actually started to drop off a little bit.
This gets right back to the point I've been making about all these, the problem is that there's no reason to participate in Bitcoin if you don't have any money.
Now, you can get in and talk in the forums, you can participate in the discussion, but there's no reason to make a Bitcoin wallet if you don't have any money or you can’t find some way to make money with it.
This is a lot of fun for speculators, traders and if you've got some money that you want to invest, but we're getting to the point where there are so many people that we're reaching critical mass, at least with Bitcoin where the people with money who want to participate make wallets and participate, but you can see this isn't mass adoption, hundreds of thousands of transactions a day.
You can see the transaction volume actually dropping even as the price spikes. I think this is a clear proof that the price of Bitcoin may actually be headed for a down turn.
Usually a drop in transactions is associated with a drop in price. The transactions will tend to spike right before something goes down, so the time to buy on something is a lot of transactions per day.
If you look at the transactions per day in Bitcoin again, you can see that there are in hundreds of thousands.
If I go to SteemDB, you're going to see that there are tons of Steem transactions compared to Bitcoin.
In the last 24 hours, there have been 770,000 transactions in Steem and that's more than Bitcoin already.
There's a lot more micro transactions on Steem, but what you want to do if you really want to see how much value there is in these different cryptocurrencies is to look at their transactions.
We can have a look at what Bitinfocharts.com is showing us.
Look at the transactions on these cryptocurrencies.
Bitcoin has 193,632 transactions in the last 24 hours.
Ethereum has 316,988 transactions.
Now obviously, it's not completely about transactions, as you can see the last transactions for Bitcoin have a higher value per transaction.
When you start looking down here, you can see how the transactions shrink.
Bitcoin Cash is a good indication that it may be way overvalued with 5,598 transactions in the last 24 hours. That's a very small amount of transactions.
When you go over to Litecoin you can see that there are 22,549 transactions in the last 24 hours.
In my opinion, transactions are some of the bottom line value. It matters how many people are holding, but you also want to know how many transactions are happening on a daily basis.
Then you can look at Dash and this is one of the things I critique Dash for, there are only 6,123 transactions, now that's a good number of transactions, that's more than Bitcoin Cash, but given the price, given the total number of transactions, that's a pretty small overall.
A lot of these Dash transactions are also probably masternode payments. There’s something like a thousand masternode payments every day that are transactions as well.
If you look at the amount of transactions, this is going to help you see how much actual money and how many people are making transfers. That can include one person transferring money to and from an exchange as well.
Then you can see things like Ethereum Classic with 36,945 transactions. That's one of the reasons I recommend buying Ethereum Classic, it has a lot of transactions given its value.
If you compare that with Dash, I realize it's not a strict apples to apples comparison, but Ethereum Classic has six times as many transactions, and that's a good sign.
Zcash has 4,251 transactions and Dogecoin 16,936 transactions, it might be worth looking into this one.
Then, when you start going lower on some of the transactions, you can see that a lot of these other coins have hardly anyone actually using them.
Looking at these charts is a good way to get the idea of what kind of real value there is in a cryptocurrency.
Thank you very much for reading this post, which was originally filmed as the video below!
Would you please leave a like on the video to help me know if I should do another one of these or upvote this post on Steemit?
The feedback on this video and the previous one about my September predictions was so positive that I got this post created for you here out of the video. I appreciate you being here and I hope you have a wonderful day today.
If you found this post helpful on Steemit, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed?
Jerry Banfield with edits by @gmichelbkk on the transcript by GoTranscript
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