Hey there world of Bitcoin crazies!
Has Bitcoin become Mainstream yet?
Has Bitcoin become too big?
Is it too late for me and has the bandwagon already taken off?
These are questions that can drive a smart man (or woman) crazy!
Some of us even sit waiting for a headline to drop related to this.
We want answers!
Well look no further than this page here because I aim to answer these questions today.
To answer these questions properly I will need to show physically show you somehow.
Therefore, I will show you how Bitcoin going Mainstream gets measured!
SPOILER ALERT
It's not easy...
Oh and Bitcoin isn't mainstream yet.
There!
That ought to save you some reading time, however, if you're the curious type you will read further.
So how the heck do you measure how "Mainstream" or "Popular" Bitcoin has become?
The quickest answer to that is, you don't!
Don't measure anything, don't buy anything, don't talk about it, and don't even think about Bitcoin.
See how long you can get away with doing all or even some of those suggestions and you will start to see just how popular it might be.
The long answer?
You don't want know.
Very few people can actually measure this perfectly or accurately given how complicated the question becomes.
The question is surrounded by an emotional factor that cannot be easily measured!
In the Financial Industry this is sort of what people refer to as Sentimental Analysis.
Most of us are familiar with Technical Analysis or TA abbreviated.
Then there are other analytical tools such as Fundamental Analysis and Quantitative Analysis among many others.
All of these things were mathematically created to help forecast market predictions.
Here is the catch with Sentimental Analysis though!
We cannot measure human emotion or human error which is what SA aims to forecast.
However!
Using only Sentimental Analysis cannot tell us exactly how popular something like Bitcoin is.
To get a true read on the popularity of something like Bitcoin we have to do additional things with SA.
We must also do the complete opposite of Sentimental Analysis!
This is easily the most important step to remember when gauging such a thing.
If you are unable to completely remove sentiment and emotions from the equation then your measurement will never come close to completion.
For example!
After doing all of this research many experts forget one of the most basic fundamental building blocks of popularity.
Volume!
Which is just simply how much there is of something, right?
Take the recent US elections for example.
When voting we count the total number of votes casted, or in other words, the volume of votes casted.
This is why places like TotalMarketCap.com named themselves so well!
Measuring the volume of something is technically the only way to actually perfectly tell how mainstream or popular something is.
So when in doubt? Scope the Volume out!
Now looking at the Volume is a great quick way to gauge where something is at.
The volume of something like Bitcoin for example, can be tracked on a graph and forecasted just like its price!
This is where things go pro and traders start to step into the upper leagues of trading.
These Upper Leagues all know about one very important thing that could easily destroy their entire trading plans.
The infamous Black Swan...
This was more recently and very obviously experienced when the pandemic hit in March this year.
For days on end the price of Bitcoin and literally every other market in the world tanked to new lows.
The most notable asset being Oil which dropped so bad because of this event that it went negative.
Negative!
Something people never thought was possible happened to one of the most valuable historic assets known to man.
Unpredictable things happen and it is important to prepare for literally anything.
Many people before this event were certain Bitcoin was going mainstream on its way to new All-Time Highs!
They were sadly mistaken when they were met with a pretty much unpredictable global catastrophe.
But remember!
We are measuring how Mainstream Bitcoin is becoming.
And disappointment is one of our most popular emotions!
The point I am trying to make now is that even though crashes are tragic.
They are also disappointing!
Although it sucks we must also point out the fact that it still creates more popularity around the subject.
It's not necessarily good popularity but it is attention nonetheless.
Think about this too.
The long-term effect of such a catastrophic event paves the way for people to say things like,
"Remember when COVID hit? I could have bought so much Bitcoin back then!"
So when Bitcoin survived the great crash of 2020 it literally created future popularity!
Very few people can come to terms with this or see those kinds of opportunities.
When we train ourselves to think that way it opens up room for better things to happen to us later.
So just how mainstream is Bitcoin right now then?
Not as popular as you might think!
In fact, I watch news stations pretty much non-stop waiting to catch some sort of local news clip or National media segment on something like Bitcoin.
It rarely ever happens!
More recently it has started to happen more which signals to someone like me that we haven't seen nothing yet.
If you think Bitcoin is popular now?
Wait until 2022 to tell me how much crazier it is going to get by then!
Bitcoin may have just hit its new All Time High now but this is nowhere near the end.
I wouldn't be surprised if there were no more harsh corrections down either.
All signs on the Magic 8-Ball are pointing to the Moon so we shall see how 2021 plays out!
For now though, it is definitely not too late to jump on board the ship. 😎
Have a Safe and Happy New Years!
Thank you for reading!
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