Community Trust ScoreLikely Real
Major cryptocurrencies keep crashing back. Early this month, Goldman Sachs, Wall Street Giant predicted that Bitcoin will compete with Gold as a store of value. Reportedly, it has also been projected that BTC might hit $100,000 in 5 years.
Those who are bashing Bitcoin continue to do so. Those who understand Bitcoin continue to adopt. The pandemic contributed its share in the adoption process. Ever since the pandemic, there has been market uncertainty, lock downs, restrictions in travel and lot more. The pandemic drove Bitcoin towards price recovery.
Anyone who is investing in Bitcoin should understand that it is important to put aside short-term price volatility aside. In the long run, the price is expected to touch $100,000 in the next year.
For those who are new to BTC, the white paper was published in 2008. The network was launched in 2009 and the price was at $0. In 2010, Nakamoto left Bitcoin and the price was then at $0.08. In 2011, the price increased from $1 in April to $32 in June and it fell down to $2 in November.
In 2012, the first BTC halving tool place. In 2013, the first Bitcoin ATMs were launched and the price touched $1,000. In 2016, there was a second halving. In 2017, the price touched $19,782.2 on December 16. In 2018, price fell down to as low as $3,212.2 on December 16.
In 2019, price crossed $10,000 on June 23, 2022. In 2020, the third halving took place and the price crashed to $4,944.7.
Following that on December 17, 2020 the price touched $20,000; Jan 03, 2021 the price crossed $30,000; On January 06, 2021 price crossed $40,000 and on February 17, 2021 the price was at $50,000.
There are ample possibilities for BTC crossing $100,000 in 5 years. The fundamentals of the Bitcoin are not any longer a mystery. Major financial Institutions like PayPal, Visa, JP Morgan etc. are offering crypto services. Increasing numbers of retail investors are interested by buying BTC than ever before.
The trust factor for BTC is better and global trends are favoring BTC. Fears about BTC getting hacked, decentralization as a working solution, and the influence of halving are all resolved.
BTC advocates like Michael Saylor have given several long hours of interview clarifying everything about BTC.
Irrespective of who has to say what about BTC, investors like Saylor are in love with the token.
Michael Saylor recently shared: “You must learn to forgive a man when he’s in love. He’s always a nuisance.” – Rudyard Kipling on Bitcoin.
Random reactions from community to Saylor: That’s because men do foolish things when they’re in love, like buying Bitcoin. Falling in love with Bitcoin is the most foolish thing a man can do.
“You must learn to forgive a man even if he’s not in love with Bitcoin.”
Love your quotes, maybe this can help to identify where are we in the current cycle and identify possible bottoms.
Saylor, it will be interesting when the BTC price tests your average entry price.
A lovely dump is incoming. You must learn to forgive Saylor for manipulating you into buying the store of Tether. Your dollar cost average i.e., 30k is coming soon. Some whales liquidated Bitcoin and lost the password to get back. We all are waiting. Bitcoin will test your conviction. No investor succeeds if they are motivated by profit alone – Your conviction must be REAL. HODL – or go home.
This is why Bitcoin will win the perfect HODL coin. Bitcoin is not a drain on the environment but an incentive for ever-increasing energy efficiency. Think it’s time for all the big money in Bitcoin to start to prove bitcoin is a hedge against inflation and bring in the real FOMO. The exchanges have a fortune stacked up and this is their opportunity.
This is why bitcoin was invented and 2022 will be its first test against global inflation. It’s time for the bitcoin whales to show the reason why Bitcoin was invented. This is a Golden Opportunity Now.
