Many are drawing their lines and placing their curves to no avail. They are backtracking with each bearish sentiment.
BTC will have up's and down's.. we all know that. We have had volatility of 10-20k for some time. That will probably only get worse.
WHY?
80.5% of bitcoin in circulation is in diamond hands. So when you only have 19.5% of 18,780,000 bitcoin being traded...what do you expect to happen. There is 3,192,600 bitcoin left to mine between now and 2030. That will be 97% of BTC that can be mined. The remainder 3% will come to market between 2030 and 2140.
That is how Bitcoin is set up. Unlike the US$ that keeps being printed and printed. By the time BTC reaches 2030, The US National Debt will be close to 40 TRILLION DOLLARS . (28.8 TRILLION now and growing by an average of 32 BILLION a week. ) PRINT more dollars and what you could buy for less than 3 cents in 1932 costs 1.00 today. CALLED INFLATION.
IF the US $ can survive until 2030, I expect the National Debt to even exceed 40 TRILLION. Will the US$ last much past 2033 without being devalued? In 1933 the US dollar became backed by gold and went off the gold standard. The dollar was backed by gold until early 1970 when it was removed.. And the printing presses started in full motion.
BTC will have up's and down's.. we all know that. We have had volatility of 10-20k for some time. That will probably only get worse.
WHY?
80.5% of bitcoin in circulation is in diamond hands. So when you only have 19.5% of 18,780,000 bitcoin being traded...what do you expect to happen. There is 3,192,600 bitcoin left to mine between now and 2030. That will be 97% of BTC that can be mined. The remainder 3% will come to market between 2030 and 2140.
That is how Bitcoin is set up. Unlike the US$ that keeps being printed and printed. By the time BTC reaches 2030, The US National Debt will be close to 40 TRILLION DOLLARS . (28.8 TRILLION now and growing by an average of 32 BILLION a week. ) PRINT more dollars and what you could buy for less than 3 cents in 1932 costs 1.00 today. CALLED INFLATION.
IF the US $ can survive until 2030, I expect the National Debt to even exceed 40 TRILLION. Will the US$ last much past 2033 without being devalued? In 1933 the US dollar became backed by gold and went off the gold standard. The dollar was backed by gold until early 1970 when it was removed.. And the printing presses started in full motion.
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It is very simple. Millennials may be smarter than us old traders think.
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Above is the 30 min