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 4 reasons why Bitcoin will succeed

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 4 reasons why Bitcoin will succeed

· 1 · 2

  • Posts: 67
techion
on: 18-06-2019, 19:41:12
As a relative newcomer to Bitcoin, I have recently poured in every bit of available non-essential cash into bitcoin. I have known about it for quite some time, especially when it hit those crazy highs in 2017 but always felt it unhinged, and I never checked out anything about the technology itself. I started paying close attention in about March this year when BTC was at about $3,700, learning more about it, and now I am feeling like there is no better place to hold value.

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I have a few thoughts regarding BTC that I have not heard expressed before anywhere and I wanted to share them to share and also see if it holds any water-

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Bitcoin's great potential at this juncture in time is very interesting because the last big financial crisis occurred in 2008, before bitcoin was around. Knowing how business cycles and stock markets work, we are due for a correction in the near future. My brother in law who works in Bank of America small business loans division told me 2 years ago the bank is treating the situation like its "the bottom of the 7th inning". According to that mindset, it seems like we are in extra innings right about now. Once that hits, BTC has a strong potential to blast up due to stock market flight.

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Second is that right now with the US political situation, with the absolute buffoon as president, the US Dollar and the US domination on the world's power stage has got to be receding, and quickly, but that doesn't reflect in daily life at all right now. With such a large entreprise as is the United States of America, we may already be, or heading towards, that peculiar situation depicted with the Road Runner and Wylie E Coyote where he begins to walk off the cliff, keeps taking steps and is as if on solid ground, until the Road Runner taps him on the shoulder, points down, he looks down to realize the situation, gasps, and begins to fall. As a Venezuelan, this is exactly what happened when the Bolivar went from 9.4 to 14 bolivares per dollar at the end of 2012, effectively crushing all foreign business interest in a two-week span and has been on a freefall ever since. The reason for it was due to the Dollars-at-a-discount policy where you could purchase up to $3,000 a year at the "preferential rate" of about 6 Bs/$ and everyone would just flip it instantly at 9.4Bs/ $ , effectively giving everybody in the country who requested it, free money. This didn't show its impact as it happened, but rather as one swift correction. Basically Wylie E Coyote. And the United States stock market is as hot as ever right now, with companies like Shopify posting 220% gains in 2019 alone and many others also crushing it this year, stuff is just not adding up how things are this hot so late in the cycle. Add to this the fact that the President himself is saying the country will enter the greatest recession ever if he's not re-elected, an inane comment but as we all know what he does best is hit you where it hurts most. In the back of our minds we should all know the party doesn't last forever. The reaction to such an event benefits bitcoin greatly. So we have an inept leader at the wheel, with China, Russia and basically everyone else in the world wanting the US to stop being the world's leader and father figure,  waging an electronic and covert war without escalating into fullblown conflict to position themselves as best as possible to take their opportunity whenever it presents itself, mainly, at the next financial crisis.

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The bitcoin halving event in about a year will also cause good upticks for bitcoin, and the SEC approving Bitcoin ETFs and further expanding the client pool to receive Bitcoin exposure will create further demand and price rise. This part of the equation is where I am least understanding of, because a halving event in and of itself doesn't affect the situation so hard, especially with as much bitcoin in the market as there already is, and from little research, not specifically tied to any significant increase in bitcoin price.

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So these here are my 4 reasons why I decided to plow what I got into bitcoin and I am not sure I have seen all of these reasons presented together anywhere I have researched lately. But I do believe in the next 18 months or so bitcoin will at the very least break through its all time high of 20k and most likely a lot more, perhaps really a serious multiplier more, depending on the timing of these things playing out. 

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I am toying with the idea of taking out money from my house by refi'ing in order to place that money into a 10 year hold of bitcoin. I would still keep at least 20% of the home value in case it all goes south but that still allows me a good chunk of cash.


reddit.com/r/Bitcoin/comments/c1z0kt/daily_discussion_june_18_2019/
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