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Quick analysis of the situation
Last week, Bitcoin put on quite the show, soaring above $111,800 on May 23 before taking a dramatic nosedive to $109,600 today. Talk about a wild ride! However, don't count this cryptocurrency out just yet; it wrapped up the week hovering near $110,000, trading at a tempting $109,770 at last check. The short-term volatility is enough to rattle any investor's nerves, but a growing faction of analysts and enthusiasts is honing in on the bigger picture—an odyssey that’s anything but boring.
Frustration and Patience: The Odd Couple
Thomas Fahrer, co-founder of Apollo and self-proclaimed Bitcoin philosopher, has been vocal about the emotional rollercoaster that Bitcoin owners experience. In his words, owning Bitcoin can be “frustrating—about 90% of the time.” However, he assures us that for those who hang on through the ups and downs, the rewards can be monumental. To illustrate his point, he unfurled a price chart that stretches from 2011 straight to a bold projection for 2031, showing Bitcoin’s unwavering upward trajectory.
Let’s reflect on some nail-biting moments: In 2015, Bitcoin crashed to a paltry $212; in 2020, it found itself lingering around $5,000; and after a dizzying peak above $67,000 in 2021, it plummeted to about $16,000 in 2022. But Fahrer’s takeaway? Despite all that heart-stopping chaos, Bitcoin has consistently hugged its long-term trendline.
Owning Bitcoin is like diving into a pool of deep, cold water: you may scream and flail about, but eventually, you’ll realize that the water's nice once you get used to it.
The Enigma of Deflationary Design
Fahrer also dived into the concept of Bitcoin as a deflationary currency, something that feels as mind-bending as trying to explain color to a blind person. Unlike the US dollar, which seemingly evaporates in your wallet as more of it floats into existence, Bitcoin has a hard cap—only 21 million coins will ever grace this planet. With each halving every four years, the supply of new coins shrinks, making it increasingly challenging for the supply to keep pace with demand. Many still have a hard time wrapping their heads around this; after all, who ever thought money could grow?
Numbers Never Lie—or Do They?
One Bitcoin fanatic, who goes by Carl Menger, brought some jaw-dropping perspective to the table. Picture this: if you held onto $100 in cash from 2020 to 2025, its buying power would shrink to a mere $76. But that same Benjamin Franklin tucked away in Bitcoin? It would explode into a staggering $1,201. Now, that’s a visual that sticks like gum under a school desk!
Once that info sinks in, it’s as hard to forget as the plot twist in your favorite movie. You can’t unsee it, folks!
No Need for Whole Coins!
Another voice chiming in is none other than Robert Kiyosaki, the “Rich Dad Poor Dad” mastermind. He’s here to dispel a common myth: you don’t need to own a whole Bitcoin to ride this wave. Even a mere 0.01 BTC can potentially turn you into a financial wizard if Bitcoin keeps its historic upward march.
Kiyosaki also pointed out that Bitcoin has made wealth-building simpler than a Sunday crossword, eliminating the need to rely on traditional assets like gold. Younger investors are particularly keen on this revolutionary approach, eager to break free from the mold.
While the daily market may feel like a mixed bag of marbles, the overarching message emanating from all these experts is clear: yes, Bitcoin may test your patience, but for now, it’s still riding that majestic upward trend. Buckle up, fellow investors—the future is bright for those who dare to hold on!
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Image(s) are provided by Unsplash and/or other free sources. They are illustrative and may not represent the content truly.
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Please, behave!