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RE: Remember: In the final era of BTC under $5000

in #bitcoin • 7 years ago

No Sir, I disagree! BitCoin moves in boom-and-bust-cycles. The spike we have been seeing throughout the summer will very likely lead to a major 20% to 30% correction towards the end of the year.

Those buying right now are very likely to sustain heavy temporary losses. The perfect opportunity to buy into BitCoin should come at the end of the correction which could go as low as $3,600 as sources like CNBC predict.

Hope this piece of advice helps some people out there find the perfect price point to get into BitCoin.

Cheers and steem on!

Stefan

7 years ago in #bitcoin by
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     7 years ago  

    Hi Stefan -- I always respect opposing views. I'm certainly not predicting that the volatility in BTC will be over (in fact I expect it to increase) -- nor do I believe that it will never be substantially below $5,000 in the coming months. But Bitcoin is unlike any other investment in the history of mankind -- for too many reasons to list here in a reply...

    But consider:

    1. First ever chance to send wealth to anyone on the planet without the involvement of any intermediary
    2. Fully decentralized unlike newer alts
    3. Mass adoption just in the earliest phase -- now anyone can buy bitcoin on your phone (very different than even 2 years ago, let alone 9 years)
    4. Less than 2% of the world population has even heard of Bitcoin and less than 0.2% have ever invested.
    5. People who have invested aren't going away, but others are coming in, and
    6. There's a finite supply -- demand with a hard-coded supply unlike we've ever seen.
    7. Fiat? -- virtually none of the above.

    Good luck to all -- and yes, only invest what you can afford to lose.

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