Pessimists argue that the Bitcoin (BTC)-price was artificially pumped during the 2017 bull run and thus will never go back up. They mourn that Bitcoin is nothing else, but virtual play money based on thin air. In fact, nothing could be further from the truth. Here are five reasons, why Bitcoin will definitely go further up over time and will most certainly reach new all time highs very soon:
1. Buying and trading Bitcoin is still quite complicated for the “average Joe”. But there’s hope: With further development of Bitcoin’s code, new investors will be drawn to the virtual currency that might not be as tech-savvy as ingrained Bitcoiners like you and me.
2. Let’s face it: Not too long from now, fiat money will be fully digitalized. At first glance, you might think “that’s cool”. But is it really? On further consideration you will inevitably notice that our freedoms die with the elimination of cash. That’s not just because your financial transactions will then be fully transparent for the government, but also because central banks can drop the interest rates below zero without us being able to cash out. To reconquer your basic freedoms, freedom-loving people will flock to Bitcoin and other cryptocurrencies.
3. The infrastructure of the Bitcoin ecosystem gets better and better over time. New ATMs are set up and more companies accept crypto virtually every day.
4. Bitcoin developers are working tirelessly as we speak on making mass adoption more feasible in the future through Lightning. The Lightning Network also helps making Bitcoin transactions anonymous.
5. Bitcoin used to be a thing reserved for nerds and criminals, granted. But increasingly, institutional investors see its potential and hop on board. The more institutional money floods our way, the higher Bitcoin’s price will rise.
6. History is on our side! If you take a close look at a logarithmic chart of Bitcoin’s price development, you will see that despite Bitcoin’s fluctuations, its price always moves north.
No newspaper in the world will publish the correct (logarithmic) chart of Bitcoin price of all time. pic.twitter.com/zGkecCNb1P
— Oleg Andreev (@oleganza) July 24, 2018
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