When we step back fro a moment and take a look at the current market cap of 210 Billion dollars it might seem like a lot.
But is it really?
There are more billionaires now then ever before as paper money continues to be printed and taken off of the gold standard 210 billion dollars is honestly a drop in the bucket.
A total of over 1,500 billionaires in the world that's 1.5 trillion dollars and that does not include businesses such as Amazon which touched over 1 trillion dollars itself!
Just a few days ago we had talked about Fidelity an investment firm which I use myself to enter the crypto universe and allow for buying of bitcoin.
So what happens if just 5% of that money gets dumped into crypto?
Bitcoin would be worth $15,000 - $18,000 per coin! This is where we were at least year and that was without any outside institutional investment.
Also remember that Fidelity is only one of 5 current such investment banks currently looking into adding this to their line up. Fidelity is also comes in 3rd in terms of amount of assets under management.
If just 2 or 3 of these banks out of 5 enter the markets and each only did 5% bitcoins price would now be at $36,000 - $54,000! Which would put bitcoin at a market cap of Roughly 1 Trillion dollars. Still a small drop in the bucket compared to where it could be if it became a world wide currency.
I'm a bit confused that despite the constant drum beat of these outside forces slowly evolving....what has kept the market at such low levels? Won't it be hard to time one's getting into the market once this stuff does become active? Do the "big boys" have a plan on when to come in?
Number one never try to time the market, If the price crashes and everyone else is panicking but the core of the program is still there etc nothing real bad there it very well might be the time to buy. When people get greedy thats the time to sell.
I recall reading that the 2017 increase in demand and prices was fueled by only $25 billion of new money. Considering that the market got to $800 billion before coming back down, that is still a small amount considering the increase experienced. This time most money is going into infrastructure and companies which will delay the next wave of demand but will also build a strong foundation to build on towards the future. As solutions like custody and user interface improve, adoption can accelerate and much more than $25 billion could come into the market.
Congratulations @bitcoinflood! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
There is a little typo: back fro a moment.