Forex Latest On Crypto

After giving us a major scare especially BTC, the cryptocurrency market is looking to stabilize after another heavy sell-off over the weekend with Bitcoin changing hands around $21.2k, while Ethereum trades back above $1.15k. The two largest cryptos by market cap have been stuck in a bear spiral for the last few months with prior bounces quickly sold into.

 

I said it again and I'll say it before, all form of the fiat money, including the cryptos are inherently, essentially, intrinsically worths-less, hey hey.

 

Right from the very start I've said that invented money never works. Now you can say all money is invented but it's usually a long process that takes years and years and years before it's gradually accepted. Trying to invent money just so you can make yourself rich has never worked. Bitcoin is just another collectible like Beanie Babies were.

 

∞ / 21,000,000

 

These are strong assertions, can you guys give more points to buttress your logic?

 

Forget about crypto, focus on Bitcoin only. 10 years from now many will have wished they had bought Bitcoin in the $10,000 to $20,000 range. It is on sale right now.

Think of it this way. There are over 20,000,000 millionaires in the United States alone. There are only 19,000,000 or so Bitcoin in circulation right now (21,000,000 is the hard limit). If all the millionaires just in the US wanted to own just one Bitcoin, it would not be possible. There are not 20,000,000 Bitcoin. Now add in all the other users/investors in the world. There is a scarcity factor which will drive up pricing when compared to fiat currency like the US Dollar or Euro.

More and more institutions are adding Bitcoin to their investment portfolio. It really is still early days so the sky is the limit, given a bit of patience. This is looking at Bitcoin as an investment.

Bitcoin also has a lot of decentralized utility as a medium of exchange which I find attractive, separate from its investment potential. I can hold Bitcoin in a personal wallet, controlled by me. I can send funds to anyone in the world quickly and at low cost and it cannot be stopped by any institution or government.

 

This is so logical and makes a lot of sense. And on a side note, BTC is rallying back up, currently trading at $23,300 from 21k plus from just yesterday as at when typing this reply.

 

Hit $24,000 for a bit overnight. I was hoping that Bitcoin would drop to the $10,000 to $14,000 range so I could really load up but I may not get the chance. We will see ... currently buying small amounts every day. I will try to remember to post in this topic again when Bitcoin hits new highs somewhere in the future. It may take a few years.

 

I think I has beaten the resistance and might likely continue to go up, though it has become a bit slow today fluctuating. But hopefully it will continue to rise, especially as so many other coins depend on it to rise too.

 

This is true, I was just on Binance a while ago and BTC is going all the way up even though it dropped some days ago. I am even more happy because I trade I loosing on is going back up because of the rise of BTC.