RE: Dtube Real Talk: FOMO Fucks Shit Up!
I still don't think BTC will ever hit that high of a mark again but only time will tell!
I wrote Is $500,000 per Bitcoin possible? The Math behind it... late last summer. I think the odds are that bitcoin will go far beyond $20K eventually, but if not bitcoin, then one of its derivatives will for sure. If you look at the history of Bitcoin, what happened last year also happened in 2013, but it took the halvening of the block reward to break us out of the long term bear market. This was predicted BTW by Masterluc on the Bitcoin Talk forum. He left the market back in 2013 saying that he wouldn't reenter until 2016.
I believe that something similar will happen in summer of 2020 and that it will peak early 2021. The technology will look much different from the original bitcoin and may be barely recognizable from the original by then, but I believe it will wear the "bitcoin" label. If bitcoin died, then something would just take its place and that label will be reused.
The long term trend is mass adoption by the 3rd world. When the technology is able to be used by Andreas Antonopoulos' mom, then widespread adoption will happen causing the banks to flip over into a minority service.
Yeah, I mean maybe in a different form it will skyrocket, though I think the whole system may have to change at that point. I could see the crypto market then becoming for sure more like a stock market, rather than an actual currency exchange. I think the only way to have a legit currency exchange is to have a stable coin. Like if SBD was actually tethered to the USD. It would suck because you couldn't make money on it, but real-life currency shouldn't be a constant gamble. It's exhausting and unsustainable.
The main reason that the USD has stability is because it's the worlds reserve currency. We in the US don't have much experience with double digit inflation and volatility which is common in many other countries. Once cryptocurrency has the mass adoption of everyone on the planet, it will stop wobbling around like a dingy on the pacific ocean and instead perform like a cruise ship.
Bahahaha. I like that analogy!