I Hope Bitcoin Will Plunge So I Can Afford to Buy More
Bitcoin is the fastest-growing, most profitable asset in the world this year, beating all other assets: stocks, bonds, gold, oil, real estate… name it! Bitcoin for now is niche investment.
In the few last months alone, Bitcoin prices have shot past $5,000 to successive new highs that saw peak at over $18,000. So now Bitcoin, the largest cryptocurrency by market capitalization of more than $300 Billion, surpases Visa’s!
With current trend price rising of Bitcoin, seeing bitcoin eclipse $18,000 and with that enclosed are brought en masse unpleasant feelings of missing out, wanting to jump in a train of opportunity, it is fairly reasonable to be expected that until the end of this month to reach $20,000, just like a Christmas Bonus.
One of the main reasons for this stratospheric rise in Bitcon’s price is the expectancy of next week introduction of the first BTC futures products. CBOE Global Markets and CME Group with their big investors are launching new futures contracts so Bitcoin will soon benefit from substantial institutional money investments. This move also legitimizes Bitcoin among Wall Street decision makers.
Further growth comes from the “bitcoin as a store of value” investors, as it is obvious it is treated in their daily lives less like a currency for its property of medium of exchange, and more like a store of value. This group of enthusiasts is the main engine behind Bitcoin success as they are driving up demand increases as they bought and held bitcoin and will not sell it at any current price. More and more bitcoin fans are entering into this group and they coined a term to describe their tactic of “Holding On for Dear Life”, aka Hodl…
In a world where Bitcoin disciples argue its price will rise further, people expect bitcoin to be in not so far future worth $1 million!
There are rational reasons to keep calm and carrying on hodling. Serious, big investors are just getting interested to be involved in a market that has so far been dominated by crypto nerds and retail investors.
The libertarian dream of Bitcoin’s creators is of a currency existing outside the traditional world of finance, and seeing how far their idea has come is really inspiring.
I am an extreme big fan, enthusiast, believer of Bitcoin as a store value and HODL philosophy, and hope to have an opportunity to buy more Bitcons at an for me “more affordable price”.