CryptoGuru
Level X3
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Bitcoin is probably the biggest think to happen to humanity since the internet was invented. The question everyone has "is 2018 a bad year for Bitcoin?" I would still have to say no even though we have been in a 6 month bear market. I believe Bitcoin needs this pull back in order to grow. Basically what your seeing now is an exact replay from 2013. The price shot up to $1300.00 and then dropped over a course of about 18 months to $200.00. The price took off from that point slowly increasing until mid 2017 and hit $20,000.00 December 2017. If what it think is correct then BTC could be in for another 12-18 months of a bear market. In 2020 on the next halving Bitcoin is set to take off to new "All Time Highs". I personally believe that by 2022 Bitcoin will be well over 100K steady. Depending on where we close the year its possible that Bitcoin could still be up 150% from early 2017 by the middle of 2019.Next i'm going to be talking about a few things first "Should we invest rite now?" Second "I Bought bitcoin to high should i sell or hold?" Third "What will Bitcoin be in 5 years?"
The big question and concern for everyone is "Should i invest into Bitcoin rite now?" First i want to talk about Bitcoin's entire history and not just the last 2 years, and Bitcoin as a tech in general. Bitcoin has been "killed" or "Dead" more times than i can count and yet its still doing fine. We survived the China BTC Ban and India ban with no problems. Since January 1st 2016 we have only seen Increase over the long term charts. If i was new and i had to make a decision on whether i was going to invest now or in the near future i would say "Sidelines until end of year." What does that mean? Basically the price of Bitcoin is still on a downward trend and if history repeats it self by the end of the year bitcoin could be around 3000 a coin. Unless China and india lift the ban and new money comes in we will see a bear year this year and most of next. Cash is king at the moment in the crypto markets. Day trading or providing Bitcoin related services are still profitable if you have the knowledge to do so. As far as holding long term i just don't think its a good idea unless you can leave it in until after 2020. Bitcoin as a tech is so evolutionary and completely upgrades the financial system, but why? Bitcoin puts the power of the money back into the peoples hands and out of government hands. Bitcoin cuts cost on transaction fees and makes sending and receiving money more convenient and safer. International money remittal is BIG money and its expensive to send money back home Bitcoin changes that!
For those of you who are not new to Bitcoin and have already invested money above the 10K mark your probably kicking yourself at the moment. The good news is that if you have not sold i would just forget about the money for a few years if you can. If you cant get out now while you still have a chance. We have about 75% chance of seeing Bitcoin drop like previously mentioned. if you can hold and accumulate more that would be the ideal situation for anyone in it for the long term. Just buy small and forget about it. So if your question is whether you should buy or sell i guess that all depends on your situation.
What will Bitcoin be in 5 years? I think Bitcoin will be even more widely used and accepted than it is currently. I think nations will realize that Bitcoin is good for the economy. This is strictly my opinion, but i do have some facts to back up why i think this. Denmark thinks digital currency is the future and is in favor of removing cash completely. Canada leading the way with many Bitcoin start ups and one of the largest person to person exchanges local bitcoins. They have thousands of ATM's and growing more. Australia doesn't even regulate Bitcoin at all and they have removed the double tax on it showing that they in favor of BTC. America is regulating and trying to structure Bitcoin access and control its usage. Why do i mention these places and things? The main reason is to show that governments and big business are starting to move towards digital currency, Bitcoin, and Block chain as a whole so why would it go away? Bitcoin for the last 5 years has been building a foundation for global dominance and the next 5 years will prove my point. For those of you worried about all the Bitcoins being in circulation and the price dropping i have news for you too. The last %1 of BTC or roughly 220,000 coins will be mined over 100 years time so Bitcoin will not run out in our life times. I believe that starts after the 2024 halving or sooner depending on Bitcoin hash rates and mining rates. With supply controlled and demand increasing i think Bitcoin is the currency of the future!
Below are some charts:
The last 24 hours
From January 1st 2013 until now
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Kakashi2020
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