Bitcoin future

Bitcoin is inarguably one of the biggest fascination in this generation. A lot has been said about Bitcoin but the loudest and most audible sounds are about the price. Bitcoin is always a candidate for speculation.

From ultra optimist such as John McAfee who believe bitcoin will be $1,000,000 by 2020 to ultra pessimist who believe bitcoin is going to zero. From celebrities to non celebrities. From whales to plankton. Everyone seem to have an idea of bitcoin's path.

Infact bitcoin speculation is a sport that almost everyone enjoy either as a player or spectator. It's thrilling, it's fun and it makes us feel smart... But a lot of times, reality disappoint us and prove otherwise. Then, we're nervous, sad and feel stupid. But hey, let's try again.

When Satoshi Nakamoto invented bitcoin, he created it as a peer-to-peer online form of cash. The function of bitcoin was a peer-to-peer money for making payments.

It attracted two kinds of people at that time: geeks and fellas who are pissed off by the recent economy crisis.

Fast forward to today, bitcoin is classified as:

Money, which can be used for payment or store of value
An asset class, a very good investment. All you have to do is buy some, hodl and after a while, buy a Lambo.

I came to the cryptosystem because it is a decentralized peer-to-peer money that doesn't give a shit about your country, your government or your skin color. I love it because it enabled me to make instant payment.

But just like everything in life, expectation is different from reality. Right now, bitcoin and other cryptocurrency coexist as money and asset simultaneously.

However, I don't think it would be so forever. Though, I'll like to see bitcoin and other cryptocurrency to remain as a peer-to-peer money, it is very unlikely, especially for bitcoin.

The main reason I believe this is because of what I'll like to call the crush. A crush is someone you love, desire and trying to attract or seduce.

In the early days of bitcoin, the crush were the people. Therefore, the first set of people she attracted were geeks who think, "this is a cool technology" and fellas who think, "this is good money".

These days, all we are trying to appeal to are the investors. Even after the bubble, it is still the investors. It is no longer about the technology or peer-to-peer shit, it is about the investment.

Is this a good thing or a bad thing?
Honestly, I don't know.
So, I'll just use that fact for my analysis.

Firstly, I believe that the long winter is coming to an end, likely next month. My reason is history. Bitcoin do fall by about 80 to 90 percent to rebound and probably shoot to the moon shortly afterwards. The recent low is $3,200 which is about 16.4% of an all time high of $19,500. Meaning, 83.6% has been wiped out.

I think the ETF would be approved next year, that's 2019 so happy new year in advance. It might not be February. But anytime next year, I believe SEC would approve the ETF. This will make a lot of big investors to dip their money into bitcoin.

Next year, there would be more and more good news and more hodling. This combo of good news, big investors and hodling will create scarcity, bull and fomo.

I don't know how high we will go next year, but I guess it could be around $40,000 give or take 10 grand.

Okay, I'll be sincere with you guys. I don't know what the price of bitcoin would be at any fucking time. I repeat, any fucking time, except for the past.

ETF might not be approved next year. And if it were, it might not affect bitcoin price than just a surge that would last for a few days. And instead of good news, it might be bad news.

Speculation is fun but no one knows the future. As they always say, "Do not invest more than you can afford to loose."

Comment below what you think the future of bitcoin would be. Also comment your thoughts about bitcoin as money or asset

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