I read a post by @jrcornel that got me thinking.  In it he described how CME announced it is going to open up a platform to trade derivatives on cryptocurrencies.  Basically, there will now be a futures market like there are with stock markets and commodities.  @jrcornel alluded to the fact that this adds a great deal of legitimacy to the entire sector.  I agree with this conclusion.

https://steemit.com/bitcoin/@jrcornel/bitcoin-making-new-all-time-highs-but-can-the-reasons-behind-it-also-be-good-for-steem-and-altcoins#@taskmaster4450/re-jrcornel-bitcoin-making-new-all-time-highs-but-can-the-reasons-behind-it-also-be-good-for-steem-and-altcoins-20171031t202225628z

So why do I write "Time To Party Like It Is 1999"?  For those who do not recall, that was part of the craze called the dotcom bubble.  Essentially, Wall Street got so excited about this thing called the Internet that money flowed in from everywhere.  People were buying anything that was even remotely tied to the Internet or the .com craze.  Naturally they had no idea what they were buying but it did not matter.  Everyone wanted in even to the extent credit was used.  It was a wild time where fortunes were made....before they were lost.

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<center>google images</center>


As I wrestled with the present state of cryptocurrencies, I mulled over the fact that Wall Street is poised to enter.  Over the last few weeks I was leaning towards this outcome but today's news really solidified it for me.  Anyone holding coins now will be **rich**. &#128526; &#128522; It does not matter what coins you have, they will appreciate.  How can I say this?  History has an odd way of mimicking itself.

There will be a couple TRILLION (that is with a T) dollars rolling into the cryptocurrency world.  With that much money, people will eventually end up looking for deals.  Bitcoin had a great run (with plenty more upside still in the works).  However, it will not go up 1,000fold from here.  While I believe that BTC will get the lion's share of the Wall Street money, it will not get it all.  People will look for other opportunities to buy anything for a return.  The blockchain is the most potential, technologically, than the Internet and Smartphone combined.  This will truly revolutionize how the world operates.

And for this reason, Wall Street will go into a frenzy.  One thing these people can do is raise money.  Turn them loose on the rich and they will bring home the funds.  We already have seen 70+ hedge funds open up that are solely designed to invest in cryptocurrencies.  For those who do not know about hedge funds, they require big money to get in (usually $100K-$1M to start).  Numbers like that will move things upward as the buying spree begins.

Back in the late 90s, Warren Buffet took a PR hit since his stock was under performing.  What caused this?  Because ole Warren does not invest in anything he does not understand and technology was beyond his realm of comprehension.  Isn't it interesting that just last week, the Oracle of Omaha blasted Bitcoin.  History repeating itself?

It sure is beginning to feel a lot like 1999.

https://youtu.be/rblt2EtFfC4