Guest Post: My High-Risk Speculative Relationship with Bitcoin
With Bitcoin currently doing less than admirably, true crypto-believers hold on to the belief that BTC’s good times are coming soon. That BTC will once again see some significant upward price movement before the end of this year.
Nope, we’re not high on our greed, but rather some of those true believers. We believe that if we invested intelligently and wisely into crypto-assets, sooner or later we would enjoy the fruits of our labor while life is still ripe. We make sure that our BTC never misses some love.
In 2018, we could have sworn that BTC would end the year trading at new all-time-highs of $25,000. The argument behind this prediction is that as expected several factors were to flip in favor of the cryptocurrency.
I still expect that some positive developments on the institutional side are coming. This move will play a prominent role in engineering and sustaining a bull market for BTC in 2019.
Bitcoin will inevitably become the world’s number one commodity, not for a day, a week, a month, a year, but every day and beyond. BTC will store value unlike any other assets before, thereby replacing gold. I admit that we are still far from this, given that gold is valued at roughly $7 trillion outstanding. However, if Bitcoin soared to a value of $333,333, or a market cap of $7 trillion, why would we need gold?
The probability of a Bitcoin ETF and an influx of funding for Fintech startups are high on the cards. Now is the best time to invest in BTC if you are looking to get a yield of 100 to 200% over three years.
I am looking at the current market condition, and I’m thinking to myself that maybe I’m obsessed with this 800-pound gorilla. This obsession could explain why I’m over-assertive to the fact that BTC might reach $15,000-$20,000 before 2019 ends and $50,000 by 2021.
Despite the frequent fluctuations, I believe that Bitcoin will soar up as per the predictions stated above. The market is aware of and working to resolve the reason which led to Bitcoin’s price fall. Bitcoin will remain the market leader, bagging the number one position and maintaining it.
Contributor: Collins Valentin, Contributor at Block Publisher
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