Bitcoin (BTC) Is Doing the Hardest Work 40-80% retraces Will Be a Blip in 10 Years from NowNovember 28, 2020
In the past sometime around in February, when the 500 millionth transaction was just sent on the Bitcoin Network on the twitter users stated, no government, bank or third party had to verify these half a billion transactions, nor could they have stopped them if they wanted to, pointing to how this is the power of bitcoin.
Bitcoin is hailed to be the Gold of the 21st century. The upside of BTC is considered to be sustainable. PayPal permitting millions of users to buy and sell cryptos has added to the trust factor.
Being an asset with limited supply moving across borders with opaque ownership, the store of value is attractive to users. Previously, there was lot of stigma attached to the user of cryptocurrencies; however, now it is considered to be important to have BTC in one’s investment portfolio.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) has been outperforming gold in several market situations and trend watchers well know it is better than Gold in terms of profit making.”
Bitcoin (BTC) and Bitcoin Investment Trust (BIT)
Barry Silbert, Dan Morehead, Tyler and Cameron Winklevoss, Michael Novogratz are well known Bitcoin investors.
Barry Silbert, Founder & CEO of Digital Currency Group, created the Bitcoin Investment Trust (BIT), which is a private, open-ended trust sponsored by Grayscale Investments, a Digital Currency Group company. The company deals exclusively in Bitcoin.
The major focus of Bitcoin Investment Trust is to solve several problems that are related to directly owning Bitcoin.
Bitcoin (BTC) and Dan Morehead
Dan Morehead, CEO of Pantera Capital are the first investment firm in the US to launch digital currency, pre-auction ICO, and blockchain-enabled venture funds.
Dan MoreHead recently expressed, “When I got in in 2013, I felt like I missed a huge chunk of it – Bitcoin had been running for a few years. People who get in now, likely feel the same. Ten years from now, you probably won’t see these prices in the chart.”
Those who invested in Bitcoin early are absolutely positive about what it can provide. Bitcoin is expected to be highly volatile in the forthcoming years, what appears to be 40-80% retraces in Bitcoin in the forth coming years will happen like blips in a the charts in 10 years from now per users. They feel that the hardest work is done by Bitcoin by virtue of its scarcity, difficulty adjustments, global consensus and game theory mechanics.