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Bitcoin- myth versus reality

By Vaman75 | Virgin Flair | 14 May 2020


In every crypto space available the 1% of world's population who are exposed or invested in cryptos shout daily, "BTC to the moon!"

All the price analysis, trading tools and historical data are thrown at readers and listeners, trying to convince them, this is the moment you need to get in or you will miss the boat.

What no one is willing to explain is how will Bitcoin reach $100,000.00 to $1 000,000 with a total CMC of less than $300 Billion when 1% of the world's population is into Cryptos?

For me the reality is simple, unless you have mass adoption and real everyday use of Cryptos, where the average person can utilize coins or tokens similar to Fiat or credit cards, it will never happen. At least not in the next 5 years.

What all these Cryptos scholars and experts are not telling us is the real reasons why BTC went from zero dollars to $20, 000.00.

IMO as Bitcoin was gaining reputation, the black market traders, drug markets and other illegal traders were using it to avoid taxation and declaring to governments anti-fraud departments.

It was the perfect opportunity to transfer ill-gotten wealth without repercussions.

FOMO also played a part in driving the price up, along with the Asian population who were able to invest without KYC and government regulations.

After the bans and restrictions imposed by several governments and the talks that countries would start regulating the crypto world, your drug lords and others pulled their money out.

The average boy who was investing without his parents knowledge in China and South Korea cashed out.

We know there are a few rich companies and individuals who are preying on the market. These Whales are dominating with their personal holds.

As the market increase, they cash out and as it decrease, they pumped money in.

Insiders information on ICOs where the average person does not get opportunities until much later means the wealthy are making the most out of coins as it hit the market.

Cryptos currently is the perfect Ponzi scheme where the rich is getting richer and the poor, only hoping that this deal can change their life.

For me, until complete world regulations where the price can remain constant and not influenced by a selected few, the average person will not be fully invested and as such there is no way we will have mass adoption to drive the price we are hearing from "experts."

Tell me what you think people.

As always, open for comments and tips.

Thank you, keep living the dream and believing. 

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