Its Thursday evening and you are back at it again staring at the charts. You are sitting there pondering to yourself, why is the price dropping again and why did I go all in at $15,000. At the time of this post, Bitcoin is sitting around the $6,100 range. Your initial plan of action is to cut your losses before your entire life savings vanishes into thin air. That means you are willing to take more than a 50% loss, which everyone always says “you only lose if you sell”. Now reader I want you to know that a majority of the world is driven by monetary incentives, that means that a majority of the world is going through the same episode that you are having right now, so take solace in knowing that you are not the only one on this boat. That being said I would like for you to read on, and if you wish to stay on that boat that is perfectly fine by me, but let me give you my piece before you decide to sit back down.
Discussing Cryptocurrency and Blockchain from the most superficial layer of things
- Between 2013 and roughly towards the end of 2016, Bitcoins market cap was fluctuating between 1 billion and 15 billion in United States Dollar(USD). Bitcoin now sits at over 100 billion USD, crazy right?
- Throughout Bitcoins lifespan this bad boy has died over 200 times. Even after killing over multiple times, does not it speak volumes that the government, banks, and people of higher power cannot seem to get rid of it?
- Bitcoin has been the “go to” way of payment for silk road, money laundering, and all things “fun” in a sense. I am not trying to make a point here; I am just stating this to get your thinking juices going on what kind of technology we are dealing with.
- Blockchain saves time, removes unnecessary fees, reduces risk, and boosts trust. Tell me what business is not going to want to save money so that they can put more in their pocket? (remember what I said about monetary incentives earlier).
- Did you notice that almost every country has been trying to scoop up as many Blockchain patents as humanly possible, since the beginning of January 2018?
I can go on forever regarding the space from a short term versus long term perspective. However, I am going to tell you now that on a long term basis, this is going to blow up and reach a value far greater then a measly $6000. Look at the chart above and bask in its supply and demand glory (yes, that is a legitimate chart with words on it). Notice how price has dropped multiple times, but someone is always willing to pick up your “shares”, because they sit on another boat called the boat of optimism. I encourage you to step off that silly hopeless boat that you are on now and join the revolution.
Featured Article Image by: Coinigy