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Bitcoin - The Currency of the Internet
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The idea of that as more people adopt Bitcoin the price will stabilize to its long term exponential curve. Here's why I think that's true.
We're already seeing this. Check out the price charts to confirm.
It makes sense. The ratio of seasoned Bitcoiners to new investors increases over time. N00bs are far more likely to panic sell for a loss. So as more and more Bitcoin users develop their strong aversion to selling, the sharp downward swings (caused by panic selling n00bs) are reduced in severity and frequency.
Plus now we have larger, more wealthy entities who buy the dip. Microstrategy already publicly announced that they're doing this. So large dips are cut off before they gain any momentum. You'll only see large downward swings if someone cashes out a few million dollars in BTC all at once. But the severity of those dips will be blunted.
Regular buyers: Grayscale Bitcoin Trust alone is buying more than 100% of the newly mined Bitcoins. Where do you think the extra Bitcoin is coming from? (BTW glorious nation of Kazakhstan just invested $700,000,000 in Bitcoin mining gear). Eventually this pool of existing Bitcoin that they're buying from will dry up more and more. That's without even considering the massive effect that the 4 year halving cycle creates.
At the next halving 31months from now, the amount of new Bitcoin created gets cut in half again for the 4th time. This will run the well even drier. Let's say Grayscale continues to buy the same amount (even though they will definitely keep increasing their investment and other players will join in too). The faster the reserve of already existing Bitcoin is getting bought up, the faster the price goes up. The halvings increase this every 4 years.
It is an absolute certainty that Bitcoin will outperform every alternative investment and one day replace or completely dominate every other type of money. And for the Bitcoin scaling issue, the lightning network has already solved that. It does a million transactions per second, and has the capacity to send 10 BTC at once, instantly, for a few Satoshis (practically free). The Bitcoin blockchain will always run right about at capacity. The lightning network has private transactions. How do we know that Bitcoin together with Bitcoin lightning aren't doing as much business as Visa? There is no limit for how high Bitcoin will go. Compare this with TSLA. Today they have a P/E ratio of 1145. Many will consider this to be overvalued. That limits how high the stock price can go. Plus, you can't spend stock. You HAVE TO sell it first. Bitcoin has no such limits. The price of Bitcoin can and will continue to go up exponentially over the long term. As volatility improves, the pace of price increase should increase as well. Accelerating acceleration. You never need to sell Bitcoin. Just spend it, unlike stocks or other financial instruments. Eventually, after 6 or 7 more halvenings, Bitcoin will have a market cap of higher than the rest of the world's wealth combined. Every step is there between here and then. Eventually government created fiat money will be nearly entirely worthless by comparison. This halving period will create another bull run as more institutional investors adopt the hold forever strategy. Volatility goes down. Bitcoin becomes more famous for its performance, draws deeper attention, converts more believers/investors, more people hold forever, Bitcoin price goes to infinity with no limit. It's just a matter of time. Bitcoin is the most genius thing I've ever seen.
Hey guys, I am fairly new to cryptocurrencies as I just invested in bitcoin for the first time last week. Could anyone explain why bitcoin has plummeted so hard today? I’m not really worried about it, in fact I will use this opportunity to invest a bit more in Bitcoin. However, im just rather confused as all of the reports I read stated how bitcoin found itself in a bullish market at the moment. LOL im down 400usd ;)
I'm by no means an expert on bitcoin, but I feel as though many people on this sub are way to confident in the future price of bitcoin. Now I'm not saying that this is the case for everyone, but for a decent amount of people who post here this seems to be the case. (To me at least). If you're posting in a sub with over 1m users that you're 100% certain bitcoin will hit an ATH in the next year, or that in 5 few years 12k for a bitcoin will seem like nothing, you may be enticing people to make bad investments. Secondly, some of these bullish posts/comments seem to have no solid basis. Of course there are comments, which do get liked quite a lot, that say: "Don't invest what you can't lose!" But the comments/posts that are extremely bullish far outweigh these comments in my experience. If I'm a noob and see many highly liked comments that say bitcoin will hit 100k in next five years or bitcoin will hit 1 million, and only one or two that say only invest what you can loose, I might be inclined to ignore the latter comment(s). Especially if I have not invested before. Now to the second point. I have noticed that a lot of people here are using price action of the past as 'evidence' for future price action. I am by no means an expert investor, but I believe and have read that while this can be an indication, it is not at all solid proof for future price action. For all we know bitcoin could stay at around 12k for the next 2 years. I want to be clear: I'm not critical of the confidence people have in bitcoin I am critical of those who post/comment that bitcoin will hit certain high prices with no solid evidence. Finally, I want to say that I'm a big fan of bitcoin! I do think that the price of bitcoin will increase a fair amount in the next few years. However, I'm not sure of this and so I'm not investing my life savings! (Or maybe I should, what if bitcoin hits 1 million in the next five years? 🤔)
So every month I buy bitcoins worth $800-1000 when I get my payment and as bitcoin price is going up I get less bitcoins now so is there any way to keep bitcoin price at $10000 so I get more bitcoins for less price.
Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. 2017 was a great year for Bitcoin price-wise, but the bullish price action went parabolic in the last few months of the year. Between November 1 and December 17, Bitcoin’s price skyrocketed from $6,600 to its All Time High of over $20,000 — a more than three times increase. What Is Bitcoin (BTC)? Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto.It was launched soon after, in January 2009. Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to ... Up 5%: Bitcoin Sees Biggest Single-Day Price Gain for 2 Months Omkar Godbole Sep 25, 2020 Bitcoin is eyeing a bull revival above the psychological resistance of $11,000, but a strengthening dollar ... The Bitcoin price has been on a tremendous run in 2019, roughly tripling its price in U.S. dollars since the start of the year. That said, Morgan Creek Digital co-founder Anthony Pompliano thinks ...
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