A Coin To Rule Them All
Updated: Oct 31, 2021
Today is the 29.11.2020, 12.37pm, sunny in Singapore.
I’m writing this right now just as we‘ve seen a 15% dip in bitcoin during the course of the past few days. I’ve told my loved ones, friends and my telegram group to buy into this dip and now I’m telling you who is reading this. If you are reading this, I truly feel that you are fortunate. I’m by no means bragging, I wish I had someone to give me leads in my investments and not just on speculation but facts and understanding, because wisdom is the key to succeeding financially. This is going to be a bull case on bitcoin, please read on if you want to understand more.
First of all, just like with anything else investment related there are risks! If you think this is a fool-proof way to make some money, please do not read on.
Now lets start, there are a few aspects that sets bitcoin apart from the other crypto-currencies and why I believe it will be an integral part of our lives in the future.
Bitcoin is commonly interpreted as ’digital gold’, why so? Bitcoin is akin in the way that it has a fixed supply, 21 million coins. Similar to gold, the amount is limited. Now you might say, wait gold has actual functionality and yes I wouldn’t deny that it has. However, many of its functional aspects can be replaced by other metals/alloys. It’s number one use is still in jewellery because it’s a beautiful piece of metal. Now in the same fashion bitcoin has uses as well, it records transactions in a public ledger transparent to all. Ironically it is also immutable quite similar to gold, meaning no one can manipulate the transactions recorded.
It is the coin with the most market capitalisation and it is likely to continue growing, just this past few months bitcoin market cap has increased by 100 billion, it currently stands at 320 billion. Just to put things into context, gold has a market cap of 9 trillion. Bitcoin is still in it’s infancy with lots of room to grow.
The pandemic has exposed humanity needs to find a currency without physical form. As countries all over the world are finding a way to establish their own crypto-currency, guess which asset will they be tagging their crypto along with? My guess, bitcoin. USA, China and many other governments have been already ‘collecting’ bitcoin, see the confiscation news. Just like how gold was ‘confiscated‘ with the birth of fiat currency. While we are on the subject of fiat currency, the US dollar has lost about 96% of it’s value since 1913 and with the amounts governments are printing it is likely to accelerate.
Now these are the few major reasons that I can put out as to why I see bitcoin as fundamentally sound. I’m sure that there are many many more reasons out there, do read up more on this to give you confidence should you wish to invest.
Technically speaking, we are at a perfect opportunity to position ourselves into bitcoin with the recent 15% dip and I foresee it going down to a 30% drop which I already have orders waiting. Now, many are saying that with this dip we are going to faced what we saw in 2017 where bitcoin plunged down 80%, I don’t believe this to be the case. Let me explain.
The chart above shows the bull run of 2015 to 2017, a meteoric 12,625%! I‘m sure many millionaires were forged during then. Now we are at about the same price level of 20,000USD, but lets compare this bull run in the following chart.
In this leg up we are at only 200% increase, which by no means is a small amount, but no where near the previous run! What more is that right now institutional money have been pouring in, square, paypal, micro strategy and soon to be more. This is an opportunity for you to be ahead of the smart money! The risk to reward ratio is SO WORTH the risk right now.
Yes, it is an extremely volatile asset. Yes there are still many uncertainties regarding the future and use of bitcoin. As there have been with every revolutionary change in this world. Think back to when gold was replaced by fiat currency or during the dot-com bubble where the world thought the internet was just a fad and would be gone. Like I said, a huge amount of money will be moved into this space. The only roadblock being red-tapes and approvals.
Dip your pinky in, why not?