Topic: Reasons To Collect And Hodl Bitcoin At Current Price For Long Term (Read 190 times)

these honestly don't seem like valid reasons for the long term rise and some of them are probably not even correct like the Big investors coming in. if they wanted to come in they have already done that without anybody noticing. they won't cause any rise because they want to buy cheapest possible.

the price will rise because bitcoin adoption in general is growing while its supply is still limited. bitcoin is a revolution in financial systems and it consequently will take a long time to reach its full potential. the price we are currently seeing is nothing but a small fraction of that.

Hi mates, your feedback are fruitful. I see most of you are questioning the point 3 relate to FIFA World Cup. As in original article, lot of hotels and merchants are accepting bitcoin for the payments. I understand that crypto community perhaps just a few of 500 K tourist there, and crypto transaction perhaps will not be a large number. But what I am intending is for long term, all 3 points in my posting are for long term.
Here my additional explanations:
1 and 2 seems clearer even still questioned for G-20 convention. The result will not be for short term even on that time (around 3 months ago) had shown some spike but it is not necessary for long term. The effect of G-20 convention probably will take effect around 1-2 years, the highlight is each country agreed that bitcoin is not a threat for their economy. This is a great basis for more progress of each country even they surely will need more knowledge and considerations for further policy or anything relate to a country and government with bitcoin and crypto, I just understand if the members of G-20 view not seeing crypto as threat then it will be easier for crypto to be used by the people on the country and it will affect the other countries which is not G-20 member. Now we can see the good progress such as lifting ban from facebook, Indian government now is considering to allow crypto trading inside the country even to apply rule (https://www.ccn.com/ban-u-turn-indian-govt-panel-suggests-cryptocurrency-regulation-report/). These are good progress as perhaps a multiplier effects of previous event such as G-20 convention. I believe later there will be more good progress made for bitcoin acceptance wider.

Regarding FIFA World Cup with Crypto as aforesaid for long term, I think at least 500 thousands of tourist from  31 countries (Russia is the host) plus hopefully there will be a crypto journalist to cover them around the world, those tourists are introduced with crypto and this is part of free marketing and advertising. The effect will not take on current time but remind if they know bitcoin then return to their countries to speak about World Cup and possible also talk Bitcoin. Just assume about 10% of 500 K people are interested to know more bitcoin means there will be 50K people who will be people with bitcoin minded to speak with their friends and family when they return to their home country. I think it is common such for other introducing new product, not instantly boost the market but for long term result. The other thing is, bitcoin transaction in Russia World Cup is a testing for a promising global currency. If the test result is good, multiplier effect of introducing to 500 thousand tourists will be a good point for further growth of bitcoin.

However nice to share thoughts with you guys, if there is other comment or feedback will be welcomed.

Uuhm… 🤔man I don’t really get what you mean by Bitcoin will be tested for a transaction during Fifa World Cup Russia, lol, that never happened. Funny statement, who even has the time to be testing Bitcoin during a football match.

You should have just said that there are lots of big business men joining the Bitcoin market and not telling us that Fifa will be testing Bitcoin lol. By the way I have a lot of Bitcoin that I have stored in my wallet cause I’m very sure that the price of Bitcoin will go up very soon, even before they end of this year.

How Fifa World Cup may have any effect on BTC price, do you read what I write in post above yours? It is 2 week since the competition started and price is have great difficulties to even stay above 6000$, not to mention lowest price of 5750$ we have few days ago.

Speed of transaction is just fine now, but BTC price is always volatile - all this thing with World Cup and relation with BTC in any way is completely misplaced story.

The reasons above are well stated and might be true too except for the FIFA one . What does FIFA has to do with Bitcoin ?
Bitcoin has been bearish all this while, it has been half a year now and as per the charts BTC has reached the bottom. According to my calculations, BTC might start rising soon. Yes I am being a little optimistic here but lets face it, who isn't ? We all want BTC to rise now.
Tired of bearish trend

The last point about FIFA seems to be crucial, it undoubtedly should bring rise to Bitcoin. But what if something goes wrong, e.g. transactions will be too slow, or BTC price will be too volatile, what impact will it have then?

1. Regarding Soros, Rockefeller, Rothschild and many others unknown wealthy families and individuals, even if it is true they invest in BTC does not mean that this is good for cryptocurrency - I do not consider them personally as something positively in this world, but rather the opposite. Also this is a bit old news.

2. Big countries in the world just not have mechanisms to stop BTC at this moment, so if they can not defeat it they will try to control it with all possible means. This include preventing any anonymity, avoid paying taxes, financial fraud of money laundering. Financial freedom for people and currency independent of national banks is something that no state will allow.

3. Russia is far away from friendly crypto country, and even 500 000 visitors will come in this World Cup maybe 1% of them will use BTC, this is based on some researches that only 0.5-1% of world population is using or owns cryptocurrency.

I can only agree that BTC is something that have possible a bright future, even for some people in this moment it does not look like that. But if you consider this basic facts :

- Limited supply
- Halving every 4 years
- Less then 4 million coins to be mined
- Millions of coins losted during the years
- 99% of BTC will be mined by 2032

I can say that investing some money in BTC even today is not bad move, but as long term investment.

Thanks for you feedback and merit, I appreciate for that. I am just inspired with the advantages of simple principle: buy at low and sell at high but when to buy and how, is still a problem for some people. Fortunately I am following the update of crypto recently and notify some good points from the update such as above then write the post spontaneously in this thread. So, imo to buy at current price not directly do it but still need confirmation from reversal or breaking support. Hopefully the last update of bitcoin price today is a signal for reversal but need a little time for fixed confirmation at least after FIFA world cup finish to see the effect of the testing.
And I haven't copied this post to anywhere, still in this forum

Obviously. The market has been down the hill for very long time now. The crypto currencies will get new level of investments sooner than we think. I am not sure how long it will take but this time dip was too long and considering that fact it comes to one conclusion people had lot of time to get into the crypto. They might have decided to wait for the bottom to reach and invest heavily into it. It could be whales around the globe whoa are also playing this game as we speak about it and thus almost hell lot of good news may stumble upon us soon.  Great post, keep making people happy.

It would be still smart to wait for a beginning of an uptrend before buying in, because you'll never know if the prices will still keep going down.

These are the kind of posts the society needs right now +1 merit for explaining so nicely and taking all the big points in consideration. ( Hope you haven't copied it from anywhere)
Also the fact that Mt. Gox is now gonna stop selling all the coins that they gave and they have decided to pay whatever is lost to their investors in Bitcoins only, this news alone is creating number of good things in the market and favourable movement for Bitcoins. Big Investors are thinking of investing and people are buying and holding , I think it's the best time for the passive income to come into play , trading isn't that benificial right now and holding is something that could prove to provide good gains.
I think we will start seeing the good effects in November.

Feeling very excited about reading all those points. If they come all true then surely we will have all new platform after the FIFA World Cup I am also believing this fact that there is something which is going to change after the FIFA and all we have to do is just to wait for this game to be over and let the people or whole world see how bitcoin is performing on its own. If the first time of business man's getting inside the bitcoin at this point then surely they will help push the economy to next level which is our goal at this time. So, looks like lot of enthusiasts around the globe who wants to support this baby from the base!

Those are not very exhibiting reasons, and I believe we need to understand that Bitcoin is building a new financial system, not a new Paypal, Applepay, Visa or some other boring payment processor. The invention of Bitcoin should be compared closer to the invention of the airplane, the telephone, and the internet. That's how big it is.

Hello Guys,

Just notice recent price movement of crypto specifically Bitcoin, now is the good time to collect then hodl of bitcoin at current price. The reasons are:
1. Big Business Man and Entity has started to enter bitcoin, they are such as Rockefeller, Soros, and Rothschild. Others are as this link:https://www.newsbtc.com/2018/04/08/soros-rothschild-big-institutional-investors-entering-bitcoin-market/

2. Major countries will be not a barrier for bitcoin as concluded on last G-20 convention as referring to this link: https://cointelegraph.com/news/bitcoin-price-jumps-1k-after-carney-tells-g20-crypto-does-not-pose-risk. There is a high possibility to be followed by other countries.

3. Popularity of Bitcoin will rise after FIFA world cup since Bitcoin will be tested for transaction during World Cup which will be witnessed by tens or even hundreds of thousands of people from all corners of the world, plus thousands of journalists who will proclaim their coverage all over the world. Here is the link: https://btcmanager.com/bitcoins-promise-of-global-currency-to-be-tested-at-fifa-world-cup-in-june-2018/

Even above points are considered as good parameter to collect bitcoin at current price, it is necessary to see the update of above points to impact the crypto market. We can understand that point no 1 will not be immediately affect the market since they need to comprehensively learn and research crypto space with the assumption above news are just still the interest of those guys to enter crypto space. So it will need time for them to understand comprehensively in crypto space with certainly full of due diligent will be made before really enter this crypto space actually.

While point no 2, even G-20 have released that crypto is not the threat to their economic and financial condition so crypto will be not barred but as a country that will need time to implement new policy, regulation, rule or laws however definitely this is a good start at least the crypto activities will not be disturbed. This is a green light for crypto development, but again it will need time to be fully good effect to the market.

While the 3rd point above, seems it will be a faster effect to bitcoin price if the testing has been successfully carried out. Hope Russia will be a place to spread out bitcoin to all over the world by performing FIFA World cup, even point no 2 and 3 are not yet affected the market immediately but if the point 3 is successful perhaps points no 1 and 2 will be move a little bit faster.

So as conclusion, in long term of crypto is still be a sexy thing specially Bitcoin to be collected and hodl while see the update of 3 points above specially the test result of point 3. Beside, we can see the indicators of point 3 by waiting the support of $ 6000 (-+ 5%) whether to be reversed or broken. If $ 6000 support is broken, Collecting Bitcoin as long term hodl will be still a sexy investment but still need to find another moment or support line of bitcoin price to enter.