Hey JessBTC Hodlers
If you're in the cryptocurrency space, you know that this year is a big year for Bitcoin with the third halving in its history happening. Each halving has kicked off a bull run as the reduction in inflation means there is now less BTC being dumped on the market through miners.
Bitcoin has hit an ATH after each halving and then settled at a new high after each run, and I can't see this one being any different. One point to note is that once the halving goes through around May this year, we will see Bitcoins inflation reduce to below the 2% figure and become even more scarce than gold.
What this means is that gold miners are getting a more significant percentage of increase in supply than Bitcoin miners will have and probably why it's been dubbed digital gold.
Image path - ft.com
The promise of private money
All fiat money is public money, issued by a central bank on behalf of a governement, other than owning precious metals it was the only game in town when it comes to storing value and making transactions. This meant central banks and those closest to the money printing could do whatever they wanted and we saw many instances of this abuse, I mean 2008 GFC was a prime example and that's when Bitcoin was born. It's taken 12 years for it to grow and gather momentum and a community behind it and in that time there has been systemic abuse and money printing the likes the world has never seen.
I think its time BTC starts to fulfil some of the promices it made in the whitepaper as more people look for an asset that is not centrally controlled once these centrally controlled money starts to eat away at itself at an even faster pace than before.
We're still kept in the dark
We don't even have access to all the data so we don't know how leveraged corporations, banks and governemtns are and we will only see once its comes crashing down. The corona virsus seems like the second wave in the change agent, putting massive pressure on supply lines and this won't go away any time soon, 6 - 8 months of this spread will bring companies and countries to their knees and in doing so start to show who actually has sound assets.
Even though BTC is in a decline I've never been more confident than now that we need this asset as a hedge to what is going on in the world.
Have your say
What do you good people of steem think? Will this be a mega bull run?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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Let's hope so... because this thing is either going up a lot... or down a lot! It's either going to be worth 100K or $30. 🤣
Lol well it looks like now is the time to find out what BTC is made of, I mean it never been around for an economic collapse or pandemic so now its time to see what it's all about
The halving does not bring mass adoption of crypto but more the speculation side of it.
I wasn't expecting mass adoption that will only come with years and its such an arbitrary statement, is their mass adoption fo stocks? No, very few people own stocks. It's not necessarily all speculation, its also a natural flow of capital now cashing a smaller amount of goods, that then kicks off the price run
It's gonna have to plunge down more before this baby goes sky high and maybe pickup a few deals before the Sky high part.
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I think so too there will be plenty of the current bag holders in desperate need of liquidity once thing continue to crash and they’ll be a sell off and I’ll be all to happy to say gimme gimmie
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