The Bull Case for Cryptos
When bitcoin soars to a new high — which I believe it inevitably will — a lot of people are going to make A LOT of money.
Because when the “king of cryptos” reaches this record-breaking new high… the rest of the space will soar too.
Now, I’m sure many people looking to get involved in the cryptocurrency markets right now are worried about why some digital currencies, especially bitcoin, keep crashing.
It’s understandable, so let’s recap why it happens… and, more importantly, why, despite these crashes, cryptocurrencies are not going away.
Why the Crypto Market Is Like No Other
With all the panic selling in bitcoin and cryptos in general this year, I understand why some people are even more cautious about cryptocurrencies right now.
It’s only natural that people panic. When you see an asset lose more than 50% of its value in a couple of weeks, it’s not good news for anyone.
If it happened to a traditional index like the Dow or the Nasdaq… sure, I’d be worried.
But the cryptocurrency market is NOT a traditional market.
When the elusive Satoshi Nakamoto first invented bitcoin, his intention wasn’t for it to be an asset for people to speculate on. Nakamoto created it — and the breakthrough technology behind it — to provide an alternative to the fiat currencies we all currently use.
Along with libertarian thinkers around the world, he was desperate to find a way to seize back control of the global financial system.
It’s why you always hear people talking about the technology behind cryptocurrencies being “decentralized.” All that really means is that no one person or organization controls the flow of the money — the records are open for everyone to see.
But of course, “get rich quick” chancers and dodgy traders have seen this as an opportunity to speculate on something very few people really understand.
In doing so, they are causing more volatility in the market than anyone is used to.
Think of it like a “bitcoin correction code.” Each time overeager speculators push the price TOO high, the correction code kicks in and resets the price to a more realistic level from which it can build again:
This presents a huge opportunity for you. The price of the cryptocurrency is still trending UP overall.
I expect bitcoin will go much higher still. And when it does rocket up, many smaller tokens will follow.
But instead of settling at the unrealistic highs created by the speculators and chancers hoping to make a quick buck, bitcoin will continue to build a bigger financial base and develop much wider usage thanks to genuine cryptocurrency users and investors who will reinforce the price.
Why Cryptocurrencies Are Here to Stay
Cryptocurrencies and the technology behind them are NOT going away.
When people like Bill Gates, Eric Schmidt and Nassim Nicholas Taleb come out in support of something, you know it’s serious. Sure, we might lose some of the well-known coins as the market corrects and investors panic.
But remember what happened with the dot-com boom and bust. Everyone piled into any company that was online… the market went up and up and up… everyone thought it would never end.
And then POP.
Everything crashed and some people lost a lot of money because they’d gotten caught up in the hype.
But out of that crash came some of the biggest and most successful companies in the world today.
That’s what the cryptocurrency market is like now. Only supercharged.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily