Potential of Bitcoin. Hope in time of despair. Part-1
“In the time of darkest defeat, victory may be nearest.” – Williams McKinley
Like many of you right now, I am getting tired of the bearish market and can't wait for the bull run to begin. It might look like that won't ever happen, especially when there are many negative takes on the future of bitcoin. During this doom and gloom, I try to look at the big picture to stay focused and positive. I will be sharing some of my thoughts broken down into chapters.
Thoughts
Trend lines
If we zoom out and look at the weekly chart, we can still see that we are in an uptrend (based on trend line 1 and trend line 2). That is still the case even if we drop to $3k (chances of this happening are really low as we haven't convincingly broken trend line 2. Just dipped below it). Even if we drop to $3k, the strong trend line (1) should carry us to the future, where in the next 4 years time the price projection of bitcoin is still above $100k.
Now a drop to $3k right now would be soul crushing (and may that never happen), but if you zoom out and if you are in it for the long term, you can see that eventually your patience will be rewarded.
Halving
Also don't forget that there will be halving in 2020. This usually has a positive effect on the price as demand becomes higher than supply.
World adoption
Now let us consider the percentage of world population that has used bitcoin. According to a recent estimate by Alex Lielacher (Jan 2018), that number is 20 million (link below). That is less than a percent of the current world population. As bitcoin adoption grow, so will the price as there are only a limited number of Bitcoin.
So even though we may loose a battle, we will eventually win the war.
*Just my opinion. Not an advice. DYOR before you invest in anything. *
https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/
Check this game out, look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game is on it's way to passing the crypto kitties game on the Dapp Radar. The smart contract is coded to tax 10% of the ETH. when users purchase the (P)roof (O)f (W)eak (H)ands tokens and divides the ETH. tax to people who are already holding and also 10% of when users sell “20% total”. The name of the game is to hold as long as you can while you get earnings from the constantly taxed “Strong hand” buys and the taxed “weak hand” sells. If you don’t want to play anymore, you can pull out all your earnings all at once but with a 10% tax fee that gets divided to the stronger hands. This is what the ERC-20 smart contract is programed to do. Doesn’t hurt to look at the contracts open source code at least, don’t let the opportunity pass you by.
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e