Some of you may be upset that you purchased Bitcoin at a higher price than it is now. However, it will barely make a difference whether you bought at $3,000.00 or $19,000.00 when it reaches $1,000,000.00. There is no logical reason as to why the price will not reach this high. In fact, simple mathematics tell us it will reach much higher.
The distribution of new $BTC is predetermined, and currently, miners are rewarded 12.5 bitcoins every 10 minutes or so. Institutions haven’t even dipped their feet yet, and are still very much restricting the public’s access to crypto while they scramble behind the scenes trying to benefit from this unstoppable phenomenon. If you’re doubting $BTC, think about why people are still willing to pay nearly $4,000.00 USD for a digital coin. Though “no little bitcoins will ever pop out the screen,” (Warren Buffet, Feb. 2019) neither will the 99% of fiat that doesn’t actually exist either. At least with $BTC, you’re investing in ingenious algorithms.
If you don’t think algorithms are worth money, consider Facebook, Twitter, and YouTube. Unlike digital currencies of the past, Bitcoin is decentralized, meaning there is no single point of attack. This means it cannot be taken down without taking down the entire Internet. Even now, community members have considered how cryptocurrencies will survive if the grid goes down. All $BTC has to do is survive while legacy systems go further into debt, printing vast amounts of fiat to cover interest charges.
The current low price of $BTC cannot be sustained as demand continues to grow. Notably, people of Venezuela are buying more and more $BTC through localbitcoins.com as political turmoil thickens and their currency inflates into worthless paper. Imagine a nation like the U.S. experienced a fraction of hyperinflation that Venezuela has, and how that can affect the demand/price of $BTC.
Prices aside, nothing has changed since the bear market. Community developers continue to push forward tech that supports cryptocurrency, making the on-boarding process easier and safer. Recent figures who have spoken positively about the future of $BTC include Jack Dorsey (Twitter) and Elon Musk (PayPal, Tesla, SpaceX). Developers are quite confident that $BTC will continue to sky rocket beyond the millions of percentage it already has since inception.
The bear market is at a very special time. During the $15,000.00+ bull market, people were dreaming about the opportunity the buy under $5000.00. Some of them refinanced their houses and took out loans to ensure their piece of the pie. Some people think it’s absolutely crazy to not own at least some $BTC, considering its history.
Being the best performing asset class in the past decade/since inception, $BTC is by far the best risk/reward investment you can take part of. Google the yearly lows to see what growth the true HODLERs have experienced.
If you don’t own Bitcoin, you may be crazy.
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