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Apr 12, 2015Comments: 1439 · Posts: 3712 · Topics: 58
it will dip by the end of april were around the 2 year mark of the last crash.
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Jan 19, 2013Comments: 1552 · Posts: 9503 · Topics: 11
It never had any intrinsic value to begin with.
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Dec 16, 2017Comments: 2928 · Posts: 2024 · Topics: 5
Some key points off the top of my head - All this is coming so you should strongly consider these things if you want to grow your money and retire early.
-If Bitcoin is bought at 25% of the rate it's being bought now, the price will $ 225,261 a year from now. It won't be bought at 25% , it'll much higher as it continues to pick up momentum. Bitcoin is up 250% from a year ago today. When i posted the price on the front page a few days ago, it was at $ 68k. It's 72k currently.
-It's one of the few assets that normal people were allowed to get into before corporations were. The Bitcoin ETF, which allowed huge corporate entities like Blackrock and Fidelity to get in, debuted 7 weeks ago. In that 7 weeks, Bitcoin passed what it took Gold to bring in in 2 years when the Gold ETF debuted. Blackrock is the top investment firm in the world with over 11 trillion in assets. Fidelity is #4.
-The Bitcoin Halving, normally the biggest event for price action, is on April 18th. What is that? Every 4 years, the amount of Bitcoin produced a day is cut in half. So right now, 900 Bitcoin are produced a day and on April 18th, it will be 450. For perspective, one entity was buying 1100 to 1200 Bitcoin a day. They found out that it was the Qatari government buying 3.1 billion worth of Bitcoin. The ETF's (Blackrock, Fidelity, and 9 other funds) are buying 10,000 a day themselves not counting other countries plus everyone else buying on their own. The U.K. today announced that they approved an ETF. Last week, China announced they will approve 10 ETFs. ETF's allow anyone associated with these investment firms to put a portion of their 401k's or wealth into Bitcoin without having to custody it themselves.
-Inflation: Due to the amount of money printing, the inflation of the currency is 7% . If you're not putting your money into something that is giving you more that 7% return, you are losing money and buying power - 70% over 10 years. There are very few things that meet this criteria - tech stocks if you know which ones to pick, real estate and land, and Bitcoin. The barrier for entry to real estate and land requires quite a bit capitol upfront to even get in. The U.S. debt is over 34 trillion and it's increasing 1 trillion every 100 days. Neither party has a plan for reducing it other than printing more money out of thin air. Inflation is worse in virtually every other country than the 7% of the U.S.
-Bitcoin is capped at 21 million total ever. You can buy up to 8 decimal points in Bitcoin. You can buy $ 5 worth. It's actually less than 21 million because it's reasoned that around 4 million are lost forever due to people losing their keys and passwords in the early days. There are 24 million millionaires in the U.S. alone so having just one Bitcoin in the future will more than enough to retire on.
-One of the biggest thing that happened in the last few years that barely anyone took notice of --the U.S. freezing billions in Russian assets. All the other countries were watching knowing that it could happen to them. Gold, for example, is cumbersome, confiscatable, and expensive to transfer. Gold is a store of value but doesn't appreciate. It's down 1% over the last 3 years.
In summation, this is one of the very few assets you can get into that will appreciate at an amazing rate due to its scarcity. Now that huge institutions and nation states are getting in, there's little time to stack what I believe is the best opportunity we'll ever have. If you're still trying to argue that it's a ponzi, fake money, or not as good as gold or anything else, you're about 3 years behind. It's akin to still being a climate change denier at this point.