With the recent dip in Bitcoin and Ethereum, many are concerned. They’re concerned about crypto regulations and whether or not the crypto market will continue to decline. This my case for a bullish Bitcoin.
Not only am I bullish on Bitcoin but also Ethereum too and consequently most other coins will benefit too. Ethereum 2.0 is finally launching and was funded ahead of expectations. If they can solve gas fees and scaling, Ethereum will truly be the go-to solution for development. It currently is that solution, but people are questioning its longevity. Yet more addresses hold 1 ETH than ever before so there are clearly more people interested in Ethereum and holding it long term than there ever have been: https://decrypt.co/48906/ethereum-addresses-1-eth-hits-all-time-high
Likewise Bitcoin currently has nearly the same amount of active addresses as it did at the previous all time high: https://bitinfocharts.com/comparison/bitcoin-activeaddresses.html.
Bitcoin is all about the fundamentals, not the market hype or anything like that. Naturally though, we see the beginning of an uptrend in searches for Bitcoin & Ethereum: https://trends.google.com/trends/explore?date=today%205-y&q=bitcoin
We won’t see this spike exponentially until Bitcoin at least passes it’s previous all time high and every news outlet is talking about Bitcoin.
This is a video I did previously explaining the Bitcoin Halving: https://odysee.com/@ScottCBusiness:4/Bitcoin-Halving-2020-The-Great-Crypto-Pump-1:e. The halving is one of the most important indicators for the value of Bitcoin. Every 4 years the inflation rate of Bitcoin halves and decreases the amount of Bitcoin being mined. With a continually growing demand for Bitcoin coupled with a supply that is scarce, you have a recipe for the value to rise.
The most interesting insight regarding the Halving was pointed out by “Russian Bear” on Twitter: https://twitter.com/zargoi/status/1319942676024856576/photo/1. They point out that the time between the bottom in a halving cycle and the next halving is the same amount of time typically between the halving and the next all time high. It has been fairly accurate in the past, so to give a rough estimate, you’d end up with October of 2021 as the prediction for the next all time high before a crash. While no price predictions can be entirely accurate, the previous gains were upwards of thousands of percent, so even a small gain of 7-10x could end get us past 100k per Bitcoin.
None of this is financial advice, but it is to show you some of the reasons I hold Bitcoin aside from the obviously amazing fundamentals of the technology. I’ve hedged my bets and invested in this dip and if the price were to decline more, I would buy more.
I’m curious to hear about your thoughts and predictions for the price of BTC & ETH. Will they go up or down? Is the price more affected by speculation or belief in the fundamentals? Are you bullish or bearish and why? Let me know in the comments below and don’t forget to like, share, and subscribe as well!
Cryptocurrency & Blockchain
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.