It’s been ten years since Bitcoin came into existence after the recession of 2008 as a way for a peer to peer exchange while eliminating the middlemen like banks and financial institutions. In mid-2010, Bitcoin was first listed on an crypto exchange at a mere $0.30. The initial price was minuscule but going forward, it only went higher as Bitcoin hit its peak at $20,000 in 2017.
So, does it mean the time to invest in Bitcoin is gone?
The time has never been right, to put it clearly. The buying power bitcoiners have during a bear market can be enormous – knowing where it has been – near $20,000 USD, and the fact that it can get there again as fundamentals and adoption continue its upward trend despite a BTC price value not reflecting this yet.
On the price front, Bitcoin is following a cycle where it goes through a period of bear market and bull market. Currently, Bitcoin is trading around $4k, down about 80 percent from its peak. Though, it goes without saying that Bitcoin is a risky venture just like any other tradeable asset, could be even more but at the moment it is heavily discounted.
When it comes to the bulls, though Bitcoin hit a peak in 2017, it is predicted by experts and analysts that Bitcoin would be seeing another all-time high in the coming years.
If we compare the flagship cryptocurrency with the other markets that have a trillion dollar market cap, it is no way near to them that shows that Bitcoin has a huge potential in front of it. And as Bitcoin enthusiast, Alec Ziupsnys puts it, “Still think you missed the boat? We haven't even figured out how to build the boat yet.”
Cryptocurrency Market Health
Talking about the market health, crypto space is maturing with the speculators having packed their bags and left off. The market is focused on building infrastructure infused with people who are passionate about crypto.
The volatility that has been considered as one of its risky features has come down a great degree. In fact, Bitcoin only sees spurts of hikes in the price at a particular time and a number of times maintain stability, even more so than the stablecoins.
For those new to the space, bitcoin (BTC) is believed to be in its 4th fractal pattern in its decade long career. The repeating nature of Bitcoin's Price action is becoming apparent to those looking at historical charts and data and believe we are experiencing our fourth big wave of approximately 90% draw down, then lasting 1-2 years at this rate of -90 percent roughly but should expect to see a 10-20x gain. How's that for a bitcoin price prediction?
It is also general consensus that we are in the second half of this 4th fractal wave pattern and would imply we are les than a year away from seeing 10x-20x in the price of Bitcoin skyrocketing (before the great 2020 halving).
The fundamentals of Bitcoin network have never been stronger. The transactions on the network has been growing with the fees seeing a tremendous drop.
Meanwhile, with the concerns about privacy plaguing people all over the world, Bitcoin holds value. Moreover, developers are working on adding more privacy features on Bitcoin network through Schnorr signatures, Taproot and MAST.
Not to forget the second layer on Bitcoin network, Lightning Network is growing at a rapid pace while gathering the attention from all over the globe by going across borders and even space and of the likes of Twitter CEO Jack Dorsey.
Longrun BTC Tailwinds:
– $200T in global debt
– It's better gold
– Socialist politics
– Governments competing
– Inevitable fiat crises
– Arc of digital vs physical
– Internet needs a native currency
– Human desire for freedom
— Dan McArdle (@robustus) February 26, 2019
Awareness about Bitcoin has happened at a global scale while involvement is still happening at a medium pace. Meanwhile, the adoption has gone to as basic as grocery stores and retirement plans. Big players like ICE via Bakkt and Fidelity are also making a bet on this industry.
As Zhang Jian, the former CTO of Huobi and founder of FCoin has said, “There is plenty of growth to come,” and what we have now is just “a drop in the bucket,” and there are “tons of waterfalls to come.”
With industry experts believing Bitcoin to surpass even the market cap of gold which is $8 trillion, Bitcoin has just started. Moreover, if you are an advocate of privacy and censorship resistance, it could be said that you are never late to get into Bitcoin.