It's twelve years since the last major financial crisis, and there are still plenty folks out there considering that it was an orchestrated one, by the oligarchs making the world spin, as they've done it multiple times during history, through all sort of techniques, to be able to buy valuable assets cheap and sell them back overpriced when euphoria kicks in among the masses.
That's how rich guys are making tons of money and will probably always do. They create the crisis and the way out of them. During, or should we say by the end of the last crisis, there was some guy Satoshi Nakamoto that invented some sort of digital money, called Bitcoin, and planned on revolutionizing the payment services and finances in our society, which till date hasn't fully achieved. Shit you definitely know by now...
What he achieved though, and BTC's history is here to back my words, is to definitely plant the seed that's become a true sprig for his master plan. For eight years BTC stayed most of the time at under $1,000 with just a few times touching and getting a bit above it, just to pump like pop corn in less than a year, back in 2017, and claim a $20,000 valuation per coin. Few assets have managed to have such a performance and still be available on markets till date.
Besides the dollar valuation of BTC, that will for sure become irrelevant in a few years from now, the finance and money revolution first steps are clearly made in the right direction, and to give just a few examples of pure crypto use cases, that wouldn't be possible without BTC's paved road, I will mention social media sites/blockchains such as Hive and Publish0x where one can earn and put crypto to work, booking companies such as travala.com where you can pay for accommodation using crypto and last but not least crypto.com that provides Visa cards that you can use to spend your crypto almost anywhere.
Hence we can't call it just a new type of asset, or an overvalued one as some famous economists such a Nouriel Roubini were stating in the last years. Yes, as a new type of money and financial revolution it has failed, but it has done that just for the one expecting it to die in the near future as the tulip hype did in 1637. A matter of fact BTC is just a toddler in the world of finance, and you know what, it's one that already has babies...if you can imagine that. For the above mentioned reasons I can say that BTC is really on track with its purpose, definitely not gonna die, and still in its early stages.
Taking into account the amount of money printed all over the world on a lunatic scale, the gold's and other valuable assets market valuation, and the fact that Bitcoin Price Has Only Ever Spent 93 Days Above $11,500 I would say that it is highly undervalued. It was born during the last financial crisis and, in my opinion, the second one that we are currently in will simply make it explode, and by the third one we won't have any longer the dollar to compare it against.
Whether this financial COVID-19 crisis was created by the same oligarchs as the one in 2008 and whether Satoshi Nakamoto is one of them, I really have no clue, but I do believe both of them are benefiting BTC big time. I know it's quite hard for some to imagine a $100,000 BTC by next year this time, but think of Venezuela, imagine if the US and other important countries will replicate to some extent its inflation, take a look at what pace and on what levels financial institutions such as Grayscale and Square are accumulating BTC and... think again.
Now, if you're bags are deflated and it seems such a steep and long road for them to reach new peaks, think again. Bitcoin traded for about eight years in a row under $1,000, and very few believed in it, it took less than one to hit $20,000 starting from that one grand it struggled at, about one and a half year after every halving it reaches its next peaks, and we're definitely in the middle of one of the ugliest crisis that this society has ever experienced. Oh... and there's only 21 millions BTC that will ever exist, some lost forever of course, but don't worry, there are plenty of other great projects that are running and building a bright future for them, their investors and users.
Fundamentals are here folks, maybe not wrapped and timed as we would like, but these fundamentals are definitely brewing one of the biggest financial revolutions in history, pushing BTC towards new peaks probably by this time around next year, and changing quite many of our lives realities, whether we like it or not. So... thanks Satoshi for inventing this shit, grateful to be able to earn crypto, I'd say quite in its early stage, and get educated about it, and thanks COVID for helping pushing its value with your so called orchestrated financial crisis. The worst time to be on the sidelines of crypto would be now... when it's probably the last time we will see an under $12k BTC.
Thanks for attention,
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