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Why Bitcoin is HERE to stay?
Why Bitcoin is HERE to stay?
We have all heard of Bitcoin, its ups and downs, and the popularity of Bitcoin has made it synonymous with cryptocurrencies. When Bitcoin breaks through new highs, some regret not buying earlier and when we hear the value hitting the lows, many feel relieved that they did not buy into the hype!
We have all heard of Bitcoin, its ups and downs, and the popularity of Bitcoin has made it synonymous with cryptocurrencies. When Bitcoin breaks through new highs, some regret not buying earlier and when we hear the value hitting the lows, many feel relieved that they did not buy into the hype!
Both these approaches are wrong, and count as missed opportunities investors are not positioned strategically to take advantage of the opportunities provided by the volatile market. First step is understanding what makes Bitcoin unique, as a crypto product and how it is different from other cryptos.
Both these approaches are wrong, and count as missed opportunities investors are not positioned strategically to take advantage of the opportunities provided by the volatile market. First step is understanding what makes Bitcoin unique, as a crypto product and how it is different from other cryptos.
Watch the below videos to gain a better understanding before starting on the Bitcoin journey.
Watch the below videos to gain a better understanding before starting on the Bitcoin journey.
Latest Bitcoin News
Latest Bitcoin News
What is Bitcoin?
What is Bitcoin?
What is Bitcoin's Value Proposition?
What is Bitcoin's Value Proposition?
What is Bitcoin's hashing algorithm SHA-256?
What is Bitcoin's hashing algorithm SHA-256?
What has changed for Bitcoin in 2021?
What has changed for Bitcoin in 2021?
2021 is an important year for Bitcoin.
2021 is an important year for Bitcoin.
First, Bitcoin reached new all-time highs, crossing the US$40k mark and continued to rise.
First, Bitcoin reached new all-time highs, crossing the US$40k mark and continued to rise.
Second, there seemed to be a greater level of trust in the Bitcoin as a store of value and a hedge against the massive Quantitative Easing and deficient spending in the US and around the world.
Second, there seemed to be a greater level of trust in the Bitcoin as a store of value and a hedge against the massive Quantitative Easing and deficient spending in the US and around the world.
Third, the Cryptocurrency market crossed US$1 Trillion in market capitalization, which is a very significant milestone in the evolution of Bitcoin and cryptocurrencies as a whole. Crossing this figure is indicative of a level of maturity and trust in Bitcoin (which accounts for about 60% of the crypto market cap) and becoming an institution grade investment.
Third, the Cryptocurrency market crossed US$1 Trillion in market capitalization, which is a very significant milestone in the evolution of Bitcoin and cryptocurrencies as a whole. Crossing this figure is indicative of a level of maturity and trust in Bitcoin (which accounts for about 60% of the crypto market cap) and becoming an institution grade investment.
And lastly, previous developments have led to the Retail investors and large hedge funds into Bitcoins, which marks the coming-of-age of Bitcoin as a legitimate institution grade investment competing with the likes of Gold and other traditional investment vehicles.
And lastly, previous developments have led to the Retail investors and large hedge funds into Bitcoins, which marks the coming-of-age of Bitcoin as a legitimate institution grade investment competing with the likes of Gold and other traditional investment vehicles.
can Bitcoin really reach $100k?
can Bitcoin really reach $100k?
Absolutely. It can even hit $400k if the current trends hold!
Absolutely. It can even hit $400k if the current trends hold!
But first, It is important to understand fundamentally what holds up fiat currencies, and why Bitcoin is not so "ephemeral" and "abstract" as it seems.
But first, It is important to understand fundamentally what holds up fiat currencies, and why Bitcoin is not so "ephemeral" and "abstract" as it seems.
"Bitcoin has Zero Value" is a frequent argument by crypto-sceptics. I agree, but so does anything else such as the US$, Euro or any of the fiat currencies. What is common between the fiat currencies and Bitcoin is that the acceptance of both is based on trust, as a reliable means of exchange, both backup up by nothing but systems/
"Bitcoin has Zero Value" is a frequent argument by crypto-sceptics. I agree, but so does anything else such as the US$, Euro or any of the fiat currencies. What is common between the fiat currencies and Bitcoin is that the acceptance of both is based on trust, as a reliable means of exchange, both backup up by nothing but systems/
So if we use and store fiat currencies as having value, the why is Bitcoin any different?
So if we use and store fiat currencies as having value, the why is Bitcoin any different?
As a store of value, is where exists the stronger opinions and passions on Bitcoin - both 'for' and 'against' arguments are formidable. Fiat currencies, with the deficit spending and backed up by nothing except the word of the government, lose their value year after year through inflation both real and hidden. Bitcoin on the other hand is an excellent store of value, since the total supply is fixed and the entire system is based on immutable blockchain. Therefore, as long as there is trust that Bitcoin is a reliable means of exchange, it almost implies that Bitcoin will then continue to be a reliable store of value.
As a store of value, is where exists the stronger opinions and passions on Bitcoin - both 'for' and 'against' arguments are formidable. Fiat currencies, with the deficit spending and backed up by nothing except the word of the government, lose their value year after year through inflation both real and hidden. Bitcoin on the other hand is an excellent store of value, since the total supply is fixed and the entire system is based on immutable blockchain. Therefore, as long as there is trust that Bitcoin is a reliable means of exchange, it almost implies that Bitcoin will then continue to be a reliable store of value.
If Bitcoin is indeed a reliable means of exchange and a store of value, then it becomes easier to understand that Bitcoin will start attracting its share of savings and market cap from other store of value assets like Gold. Indeed, if Bitcoin takes half of Gold's market cap, Bitcoin can easily reach $200k.
If Bitcoin is indeed a reliable means of exchange and a store of value, then it becomes easier to understand that Bitcoin will start attracting its share of savings and market cap from other store of value assets like Gold. Indeed, if Bitcoin takes half of Gold's market cap, Bitcoin can easily reach $200k.
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