I truthfully haven't bought any BTC yet, but I think if I were to it would be soon. Hopefully the prices drop a little bit further, I'd be a buyer at $5k. If prices go above $9.5 I'd probably start investing too because it would mean what I'm about to say has come to be realized by investors.
From a macroeconomic standpoint, having a currency that is able to grow independently from any single nation's economy while simultaneously be liquid enough to transfer to any other type of currency...just makes business sense for investors. It's only a matter of time now.
I've predicted the major fall in BTC price when everybody was saying "Buy and HodL!!" because my concerns were not due to the currency itself...but due to how it was synonymous with criminal activity. BTC was artifically pumped up using darkweb cleaners until ~2018. At that time dark web operations slowed down, and big moneys stopped being transferred...which obviously (I think) was a huge component in the cryptocrash of 2018.
This time it's different. The U.S. is full speed ahead in a recession. As the dollar falls, so too will global prices fall in general. This should include BTC (which is why I'm hoping it goes down to $5k honestly)
Here's the difference
I think investors will finally see after this recession that it makes more sense to have a currency that is not so "chained" to the USD. In other words, if the US economy / US money becomes super volatile (like right now with the stock markets) then it should mean that BTC is relatively less volatile...because other money markets in other nations might not be as volatile. My expectation is that this should create a bit of a built in stabilizer for the volatility of BTC. The more stable that other nations economies are relative to BTC, the less volatile BTC value should be relative to any one nation in case their markets go into recession. Any one nation's currency should be able to potentially drop by some value %, while crypto values would drop by a lesser % which then means the value of BTC rises relative to that nations currency.
When investors realize it's less volatile than national currencies, it becomes infinitely more appealing.
Somebody please tell me if I'm wrong. My reasoning has nothing to do with the actual security of blockchain technologies...but to do with investor feelings on a macroeconomic scale.
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