Bitcoin Rises Again. Time to get Your Head Around it!
With Bitcoin having reached higher than $11,000 per coin and now hovering at (Recent edit) 6150 USD, you can make a pretty safe bet that Bitcoin will increase in value very shortly to greater than its greatest high. It’s climbing a mountain now, and as all climbers know, sometimes you have to move down a bit before you can gain more height.
What Makes me so Confident?
Well, Bitcoin value has always risen to greater highs after experiencing a dip in value, no matter whether the dip in value was caused by people taking profit by cashing out, or by some particularly bad or false news.
And as I’ve pointed out before, and never tire of pointing out, trends tend to continue. That’s why I’m focusing entirely on Bitcoin in this article. A coin that’s been on a plateau for years will probably be there for more years. A coin that once reached a high, and has been on a downward slope ever since, will probably keep skiing downhill. Or it might go cross-country. But it’s not going to get on a ski-lift. A coin that is on an exponential climbing trend that is well established, is likely to keep climbing.
So Bitcoin is going up. It’s appreciating in price, developing more backing, expanding in usage, flourishing whilst lesser coins wither, gaining in strength, succeeding in making people wealthy, thriving in what otherwise is an unhealthy economy, growing in popularity, increasing confidence in cryptocurrency as a whole, and strengthening its position as a store of value.
Cashing out, and Buying in Again.
A lot of people cash out only to buy back in at a lower price, giving them more Bitcoin. That’s not what your crypto-enthusiast does, because figures show that most people hold for the long-term gain. But if you were an early adopter, or are a trust fund or investment bank, and you have 10,000 Bitcoin, you can currently make $1000 per coin by flipping it, and you’ve just made $10m.
Not bad earnings for a week with a $100m investment. Plus, you’ve bought back in, so you’ve still got your Bitcoin for the next time. So how long will it take you to double that $100m investment? Depends how many times you can cause a crash in value by selling off. I’m thinking once every six weeks. It must be hard to resist doing that.
Well, I’m not so much ‘thinking’ it as looking at the trends and projecting them. Doing that, you can’t help but see the longer trend happenings. You can predict them with a fair degree of certainty. So do that yourself, and stop procrastinating. Look at the growth rates. Ignore the shorter term dips and highs. Extrapolate. Have a look at my extrapolation in a previous article. Now I’m thinking I overestimated the time it’ll take Bitcoin to reach $20,000.
Driving the Bitcoin Market Higher.
And the best thing is, when people like that buy back in, it makes the price go up the hill. But it’s just one of many factors that keeps Bitcoin growing. Such market speculation is both bad and good for Bitcoin. It’s bad because people see a level of instability. It’s good because when the price drops people realise that they can buy more Bitcoin for their money, so new investors get in, in the almost certain knowledge that they are going to make a lot of money out of their investment.
Can You Afford it? The Answer is Yes! Stop Procrastinating.
Just get your head around it! The trouble with the current value of Bitcoin is that only a small percentage of the population of our planet can afford to obtain whole coins. Does that matter? I’d guess that it matters not in the least. Even people who’ve been saving a small amount from a small salary for years, and only have a little saved, can afford to buy into Bitcoin. But do yourself an enormous favour and obtain a Trezor or Ledger hardware wallet first. Don’t keep your coins on a platform.
Both the Trezor and Ledger Nano S help enormously in keeping your coins safe, are easy to set up, and actually teach you about buying and selling cryptocurrency. Choose one or the other to get started. Buy both, if you can afford it.
You can buy Bitcoin at any of these recommended platforms. LocalBitcoins, Luno, or Coinbase. I’ve found these to be safe places to buy. LocalBitcoins focuses entirely on Bitcoin, so it’s their speciality, but you can obtain other coins at Luno and Coinbase. Personally, I never put all my eggs in one basket, so I use all three plus some others. Don’t get Ripped off by going to a dodgy platform.
As I keep reminding people here on Crypto Kronos, you don’t have to buy a whole coin. With the rate at which Bitcoin is currently growing, any investment will soon double. And then, given not too long, it’ll double again. And again! And again! I write from experience on this point. Of course, you know the old saying that past performance is not necessarily an indication of future performance. But like I said, trends tend to continue.
This could be you!
So if you can put just 200 Pounds or Euros or Dollars into Bitcoin, you have to balance the small risk that you’ll lose your whole investment, which is near impossible now as the Market Cap of Bitcoin is huge and grows month-to-month, against the likelihood of making quite a lot of money from that investment of two hundred.
Give it enough time, and a single Satoshi (a billionth of a Bitcoin) could buy you a car. Optimistic? Yes, but countless studies show that optimists win and pessimists fail.
Optimism Stops Procrastination.
Success comes from the head. Optimists get things done, while pessimists procrastinate and miss opportunities, and right now, this very moment, there is the opportunity of a lifetime. Bitcoin is just at base camp. It’s going up that mountain come hell or high water.
What? You don’t like clichés? Well, I’ve only one thing to say about that, to quote Terry Pratchett, “The reason that clichés become clichés is that they are the hammers and screwdrivers in the toolbox of communication.”
Or to say what I find to be the case, they are usually true.
Disclaimer: Just my thoughts, not financial advice. I try to provide ideas, clarify what may seem complicated to some, and if I have a skill set with cryptocurrency, it is to see through agendas, recognise patterns, and help people make up their own minds about what to do. And I am biased. As an owner of a number of cryptocurrencies, I have a vested interest in them doing well, because that puts up the market cap and builds trust. I seriously dislike people, governments, and central bankers who would deceive people for the sake of profit. Consider me a contrarian, in that I don’t care what the establishment think. I don’t answer to anyone except myself. So I’m an enthusiast. There’s no hidden agenda with me. My affiliate links help to fund this site. But I’m not often wrong when writing about cryptos.
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