Bitcoin’s Next Bull Run Boils Down to YOU: Does a BTC Hodler Need to Spend to Spark the Next Rally?
The next Bitcoin boom is just around the corner, that is the most common conversation when you sit with a bunch of crypto enthusiasts. The debates and flights of fantasy can take hours if not the whole night. Yet it all gets stuck around what would trigger it.
SECs approval of the next bitcoin ETF or more acceptance by the Wall Street? Perhaps its time to ask not what the institutions can do for you, instead ask how you can actively participate. And therein lies the answer, by actively using the crypto assets.
As bitcoin gains more mainstream acceptance and starts being used more often, it presents itself as a viable alternative to traditional institutes and payment systems. All this is unlikely to happen at the current rate when researchers have found that only about one-third of crypto wallets are active. The rest seem to be fairly content holding on to their assets and pray for a miracle that will see the prices swell to former glory days.
When Nakamoto was talking about Bitcoin, he had said he saw it as online transactions that were peer-to-peer. Thus a wider adoption scheme that uses them will make the token an accepted form of payment.
This will, in turn, heat up the demand for the coin and lead to an upturn in prices. An idea that might have already been picked up on, with transactions rates fast reaching their highest points since the peaks of 2017. This indicates a return to form and the rekindling of consumer confidence.
Past performance is not an indication of the future
However, it is a fact that the 2017 transaction frenzy was not handled very well by the system, Yet, the infrastructure has come a long way since then. The capacity and channels offered by the Lightning Network together with microtransactions on the lightning torch offer more than hope, it shows real development. In a heartening experience, a small amount to BTC was passed around the twitter world
So now the question becomes how does one go about spending their coins. After all, walking down to the mom and pops stores down the road isn't going to do much; neither is going to the mall. Yet, some big vendors like Microsoft and websites such as cheapair.com have opened up to welcoming payment in bitcoins.
The most elegant solution might be to start checking for BTC accepted sites and start shopping there. Checking for restro, bars and cafes that offer this alternate and patronizing them, or getting ones favorite hangout joint to join the crusade.
Starting the next bull run might be more in the hands of people than they realize. After all, that was the whole point of this endeavor.