I was considering just adding this to discussion thread but I think there has been some major fear mongering and in my opinion; outlandish predictions saying BTC hill hit $300,000 and then fall into a nuclear crypto winter taking a massive nose dive of the likes we saw in 2018 or worse.
Now for those of you who swear by the coin, I personally love it, but normally opt to hold alts like Eth and some defi types because of just how interesting the technology is and it is often financially more accessible with upswings that are more tailored to my investment preferences. I liken it to loving physical gold but holding mostly silver.
Again these concepts are nothing new, but what has been bothering me lately is these “New wave btc bubble” posts such as this:
[Bitcoin could surge to $300,000 — but winter could last for years when the bubble bursts, says crypto entrepreneur](https://www.cnbc.com/2021/03/22/bitcoin-btc-may-hit-300000-but-bubble-could-burst-after-peak-bobby-lee.html?__twitter_impression=true&recirc=taboolainternal)
I can say that after witnessing the recent surges and the volatility becoming semi-predictable and there may be notable and predictable patterns. These include which players enter the arena, who is spending on what, or even how someone of high significance tweeting gives tangible insight on how the BTC market will react. It seems evident to me.
Will BTC reach 300k anytime soon? Doubtful. 100k? Easily. Are we in another bubble that will cause a massive crash like 2018? Extremely unlikely if not downright ridiculous unless BTC suddenly breaks or gets dethroned and rendered obsolete which again is next to nil. It has become too much of a standard already.
Now the reason I make the point of saying this isn’t the typical “bubble” we have seen in the past with BTC, is because of the mass adoptions by almost all the big corporations and even government entities coming to realize there can actually exist a fine line of regulation yet very valuable and far more convenient and efficient uses for BTC by integration or in combination with fiat, than simply being a layman’s hodling commodity dismissed via nonsense like blackmarket fear mongering. And Federal panic that their printers are going to stop suddenly and society will be enveloped in darkness and utter financial chaos will ensue. This is irrational and improbable. Besides its too late even if that had any remote basis in reality.
i believe the Feds are actually realizing they cant fight the expansion of BTC and crypto in general for that matter (I’ll get to DeFi shortly). Feds have no choice as even banks are pressuring them to start taking cues from larger companies; and especially how payment providers are utilizing and integrating BTC on a global scale because we are now at that pivotal point – companies, e-commerce and private holders are also holding up a middle finger: ‘no governing body can completely and effectively stop this technology as was a main point of its inception. Working as intended.’
This isn’t a bubble, it is the cusp of global and mass adoption being accepted across almost all financial sectors with the standards being set by the tech and those who utilize it, the utilization is the very means of getting access to that control with no off switch and that is universal by design. Thus, I believe the value of BTC will gradually rise due to its ever increasing demand, usage and finity. Of course there are the outliers; we may see some usual ebbs and flows correlating to venture, integration and even potential future fork announcements, but BTCs nature and trajectory should theoretically keep it on a steady and organic rise in value through the foreseeable future.
Mining methods are already transitioning and mostly reserved to large data processing centres to even be substantually profitable, mass adoption is moving faster than we can even validate it. I am estimating new adoptions currently being made, around the globe, every minute of everyday. This could eventually include the Feds changing their tune to its allocation in a global fashion to acknowledge it as it was meant to be: a universal currency…just maybe.
Within the next few years it will likely be considered abnormal for global businesses and e-commerce companies to not have at least some form of integration of BTC or they will be left in the dust, considering the possible increase in values of proprietary software and hardware systems alone, that allow for companies to tap into the blockchain seamlessly. Not to mention the lost revenues.
On the other hand this is also where I believe a “parallel universe effect” could have Bitcoin no longer being the single, be all and end all, leader of the pack. Ethereum‘s smart tech and the freedom of DeFi are becoming more attractive and accessible, thus leading to a choice scenario within universal adoption. You would have BTC as the grandfathered staple “money” and then a form of Eth and DeFi as the universal and attractive choice for specialized transactions. Both providing the baseline and premium options. I guess an analogy would be “would you like to pay with cash, debit or credit?”
I am no expert on this stuff but as a career analyst I could see this being the ultimate outcome for global acceptances. What do you guys think about my opinions on this, is it flawed? And am I wrong to suggest there is no longer a bubble effect rather a stabilized adoption effect taking hold, meaning a future crash for BTC and ETH to be highly improbable?
Or maybe I forgot my meds today…