your reasoning is not correct but you come to a much better conclusion instead!
bitcoin price will continue to rise because first of all it has a limited supply with a good cap at 21 million coins. second the demand for it is rising and as long as that is true, the price will continue to rise. so far there is no reason for the demand to drop.
however, temporarily you can see prices drop because of how market is still small and it can be manipulated and all the weak hands increase the volatility.
Topic: My thought outline on wether to invest in bitcoin. - page 2. (Read 1290 times)
I agree if you are going to invest in bitcoin it is the best choice because butcoin can provide a huge advantage.
You are right on target with this one. This is useful information. The limited supply of bitcoin will greatly influence the price in the future as only a couple million are left to be mined and once this runs out, supply stops, which will give bitcoin value as long as demand remains constant/increases
This statement results from a study or just a speculation? I think you should see more facts. Do not just think of your own thoughts
Please provide feedback where you disagree but also please let me know where you agree
Cons
• Tethering subpenoa by US government
• US banks boycotting bankers ability to purchase bitcoin
• Facebook banning adds
• Recent news about scammers
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Facebook had banned ads related to cryptocurrencies becuase of the continuous scams that were ongoing in the crypto market. This should be taken positively because it will eliminate fraudlent ICOs and will increase the opportunity of potential ICOs to be more successful.Cons
• Tethering subpenoa by US government
• US banks boycotting bankers ability to purchase bitcoin
• Facebook banning adds
• Recent news about scammers
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Quote
Pros
• Bitcoins history to bounce back
• At its core the value that is provided by bitcoin as a service has not been devalued.
• Despite negative news bitcoin has held positive hype and faith from its community.
Agree with the Pros since they are true. Bitcoin does have the ability to recover from any crash/crisis .• Bitcoins history to bounce back
• At its core the value that is provided by bitcoin as a service has not been devalued.
• Despite negative news bitcoin has held positive hype and faith from its community.
Quote
Unanswerable questions:
• What is bitcoins actual value minus any hype and with all future regulations added?
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
1.We can answer your first question since t requires the knowledge of future regulations which can only be known when the time arrives.• What is bitcoins actual value minus any hype and with all future regulations added?
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
2.Bitcoin can go as low as $2k - $4k because last year the price pumped around $2k and kept on increasing until the dump from $19k occured. So according to my calculations the real price should be anywhere near $2k - $4k .
3.I believe the price might reach $100k in the next 5 years if the rate of growth is the same as last year. If the growth rate is average then price could be anywhere near to $40k - $50k .
P.S: All the speculations are based on experience and doesn't guarantee anything.
OP forgot the most important reason why to invest in Bitcoin:
Outstanding new technology that impacts the financial world
edit: Current price is meaningless...
Outstanding new technology that impacts the financial world
edit: Current price is meaningless...
Except the specialization in this case is for most people their full-time job whereas even professional traders are proven to lose money most of the time.
Every Bitcoin you but that later goes up, means the person who sold it missed out on those gains.
Except the specialization in this case is for most people their full-time job whereas even professional traders are proven to lose money most of the time.
Please provide feedback where you disagree but also please let me know where you agree
Cons
...
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Pros
...
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
Conclusion
...
Invest 1-2k in bitcoin leave in for 5 years as soon as it hits below 2-5k
Cons
...
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Pros
...
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
Conclusion
...
Invest 1-2k in bitcoin leave in for 5 years as soon as it hits below 2-5k
Your cons are trivial and not the real cons. Your pros are basically guesses. My feedback is this: you could do more research before coming to any conclusion.
That's true I'm general economic theory, not true in the question of a single commodity, such as Bitcoin.
I'd say your conclusion is spot on, well done.
I think you are on the right idea here mate. in my opinion you should invest in alts and use bitcoin as a store value for the returns of those investments.
Please provide feedback where you disagree but also please let me know where you agree
Cons
• Tethering subpenoa by US government
• US banks boycotting bankers ability to purchase bitcoin
• Facebook banning adds
• Recent news about scammers
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Pros
• Bitcoins history to bounce back
• At its core the value that is provided by bitcoin as a service has not been devalued.
• Despite negative news bitcoin has held positive hype and faith from its community.
Unanswerable questions:
• What is bitcoins actual value minus any hype and with all future regulations added?
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
Conclusion
Bit coin will continue to be volatile but its actual value will not be effected by banks/government.
People will continue to invest
Long term value will continue to raise
Invest 1-2k in bitcoin leave in for 5 years as soon as it hits below 2-5k
Cons
• Tethering subpenoa by US government
• US banks boycotting bankers ability to purchase bitcoin
• Facebook banning adds
• Recent news about scammers
Cons Summary: Bitcoin has been made harder to purchase and potential users are less secure in their purchase.
Pros
• Bitcoins history to bounce back
• At its core the value that is provided by bitcoin as a service has not been devalued.
• Despite negative news bitcoin has held positive hype and faith from its community.
Unanswerable questions:
• What is bitcoins actual value minus any hype and with all future regulations added?
• How far down is bitcoin going to go? (guess 2-5k)
• How far back up is going going to go in a 5 year time span (guess 50k)
Conclusion
Bit coin will continue to be volatile but its actual value will not be effected by banks/government.
People will continue to invest
Long term value will continue to raise
Invest 1-2k in bitcoin leave in for 5 years as soon as it hits below 2-5k
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