Bitcoin: The Reality of the Situation (It’s Not What you Think)
01:07 Bear Market?
02:04 Mid Term
02:52 Short Term
03:15 China Suppressing
09:26 NFTs Stupid?
I imagine we’re all watching with baited breath as Bitcoin attempts to reclaim key psychological levels, hopefully delaying, for me at least, the need of a real job. I kid of course. But we are all very emotional I know. I’m right there with There is however a huge amount of misunderstanding regarding Bitcoin right now, where it’s going in the short mid and long term and in addition I aim to shed a light on topics like: Did Elon Crash Bitcoin?
How likely is it that we are now entering a bear market?
Is China really suppressing the value of Bitcoin?
And the truth behind one of the biggest stories in years, which is really saying something.
And lastly, are NFTs Stupid? Next up. Are we entering a bear market?
I want to give you some perspective, and there is probably no one greater for that right now, than Michael Saylor, who had this to say about where he thinks Bitcoin is going. Mid term. I would say the only thing stopping Bitcoin from reaching $100k this year which is my, I think very reasonable 2021 price prediction would be an economic crash. Despite Bitcoin being technically the least correlated asset class, it also behaves much like tech stocks do for now. Which is to say, mostly up, but sometimes down a lot, and moving together in a coordinated fashion.
I do not believe there is enough evidence to suggest Bitcoin would be a safe store of value in an economic crash, only that it would maybe recover faster than most assets, like we saw in March 2020. But no one can definitively say when an economic crash would occur, but if you want my in-depth opinions on that topic, then please check out this video. F2Pool Bitcoin mining manipulation, is it true?
Disclaimer: I am not a financial adviser and this is not financial advice.
#crypto #cryptocurrency #bitcoin