There is simply is not enough Bitcoin to go around. There has been over 18 million Bitcoin (BTC) mined since 2009 but over 3 million have been lost. Over 10 million BTC are locked up in wallets that have not moved in four years or longer. This leaves 5 million BTC for 7.5 Billion people on this planet to fight over. Yes a BTC can be broken down into a Satoshi (100 millionth), but the hopes of owning 1 full BTC is almost gone. By January of 2020, most common Joe citizen will not be able to own a single BTC. Most people will only hope to own 1/4th of a BTC by year 2021.
The good news is that there are many good, quality alternative coins out there to own. However, the top 30 to 40 crypto currency coins and tokens will not last long either. Coins that used to be $7 to $10 like Litecoin (LTC) are now over $100.00. Soon, these secondary coins will become very expensive to own. The point being is that time is running out for the small guy to participate in the crypto Fin Tech market. Time is of the essence.
Egypt announced that Bitcoin and other cryptos are good to go. Before, BTC was not viewed as Sharia compliant in Egypt but now it is. Here is a list of the countries that allow, use and mine BTC. Green is yes, Red is no.
Just in the United States alone, there will be four major investment funds competing to own all of the BTC that is mined every 10 minutes. These corporations are, Fidelity, Ameritrade, E Trade and Bakkt (owned by ICE). What about the rest of the world? How will they get their BTC? There simply is not enough to go around. Bitcoin is a store of value. Once BTC reaches a value of $400,000.00 it will replace the world's gold reserves used to back international trade settlements. When we reach that point, very few individuals will own BTC. BTC will be owned by governments and mega corporations.
This only leaves the alt coins for the masses. Now is the time to build a portfolio. Look for coins that have a good development team, blockchain platform, have a good Network effect and are on major exchanges. The best up coming high growth crypto coins are the ones that will address interoperability capabilities. This is where I am putting my money in. The coins and platforms that address and enable blockchains to "talk" to each other will go up parabolic in value.
Do not worry about the ups and downs of the markets. Crypto's are heavily manipulated and volatile. This is to be expected. If you day trade, beware. If you hold on for dear life (HODL) you will be fine. Remember, it is time in the market not market timing. The resent BTC pump to over $9000.00 and then drop to $8000.00 within hours was most likely an inside crypto exchange inside trading stunt. Someone manipulated the market, Rekt the shorts and then the longs and make a quick $12 to $20 Million dollars within hours.
image from: elevenews.com
I like your posts @jetblake.
You drop some interesting links to websites I've never seen before. Like on one of your previous posts you had the website showing the flow from fiat to crypto. Keep it up man
Thank you my friend. We need to hold strong