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RE: Bitcoin is far from dead: 4 Charts - Why I am bullish

in #bitcoin5 years ago (edited)

I agree that Bitcoin is not dead.
Thank you for the presentation showing both the cyclical nature and steady appreciation of Bitcoin. Few people remember that longterm holders of Bitcoin have experienced mostly appreciation of their Bitcoin while it’s mainly the speculators in the last Bull market that lost money. Your charts and words help to explain that. The true Bitcoin millionaires are still quite wealthy.

Additionally, I have been researching the commerce side of Bitcoin and during this Bear Market many ways of utilizing Bitcoin for daily purchase have been developed. At this point mechanisms exist to utilize Bitcoin like both a currency and a store of value exist and are functioning in North America, Asia and Western Europe. Worldwide trade volumes of Bitcoin as you point out are quite high as multiple countries experiencing inflation and a few experiencing hyperinflation have seen their citizens move from national currencies to both dollars and Bitcoin. In fact the digital nature and easy transport of Bitcoin rivals both dollars and gold. We are living in the future stages of a revolution in the way people store value.

Lastly, the preparations by Institutional Investors like Nasdaq and Fidelity to make it possible for cryptocurrency naive investors to invest large sums into Bitcoin, with cold storage and institutional methods of securing private keys not unlike the institutional storage of stock certificates has not gone unnoticed and also indicates the coming investment of large individual and institutional monies into Bitcoin, in my opinion and this opinion is held by others in the cryptocphete.

Bitcoin is far from dead, it will be a permanent part of the financial landscape for years to come.
It will I believe facilitate the similar adoption of other altcoins like our beloved Steem.

@shortsegments