Thank you for your analysis..could you elaborate on: "Holding on to Bitcoin of course is not a bad course of action long term". Why do you assume this?
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Thank you for your analysis..could you elaborate on: "Holding on to Bitcoin of course is not a bad course of action long term". Why do you assume this?
I assume this because the Bitoin market is still extremely small. Compared to Gold which has a market value of about 8,2 trillion dollars it is about 0,2% of that. at 21 billion.
But of course. OF COURSE. That is my personal opinion and frankly i haven't seen anything suggest Bitcoin isn't in a bull market at the moment.
What is your estimated market cap for Bitcoin? I assume it can not go higher than gold because (in my personal opinion) gold has higher intrinsic value. I see Bitcoin more as an asset instead of a currency.
Bitcoin could easily clear 1 trillion in market cap since it can be Applied globally. There is more than a 100 trillion US dollars in circulation today and rising (obviously).
The big obstacle for Bitcoin is currently that people only use it to Exchange back to their own currency. If people and retailers would begin to keep the Bitcoins AS BITCOINS, this would be a very differet story.
But as of now, Bitcoin is just a modern form of paypal.
Well of course they do not use it, the transaction speed is too slow. Compared to Ripple or Stellar Lunem for example. And like I said, I don't think people will ever use it as a currency but rather a commodity.