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Strategies & Market Trends : Bitcoin
BTC 63,791+2.6%Oct 20 7:24 AM EDT

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To: J.F. Sebastian who wrote (932)7/4/2021 7:32:22 AM
From: Elsewhere1 Recommendation

Recommended By
J.F. Sebastian

   of 939
Thank you for the very thorough explanation.

You're welcome. Always here to answer reasonable questions about Bitcoin as best as I can.

I never plan to, either, but I do find the whole crypto phenomenon fascinating.

Yes, Bitcoin is fascinating. Bitcoin is the original, the rest is copycats. As congressman Davidson has put it: "There's Bitcoin and there is shitcoin".

We are witnessing the monetizing of a new asset. Bitcoin is the black hole sucking in the monetary value which had previously been stored in precious metals, real estate and other vehicles. Volatility in the expansion stage is to be expected. Think of a big vessel being poured into a smaller one. Big waves going in, smaller waves coming out in between.

Any predictions on what the price of Bitcoin will be by the end of 2021?

In the short term, i.e. in the course of months, it is impossible to predict the BTC price. Many traders have gone "REKT" (wrecked) trying to time the market. The volatility is high, see above, although it is getting lower with the growing market capitalization. In the long run nobody has lost money holding BTC longer than four years. By 2030 BTC may reach $1 million, i.e. a 30x from the current level.

For US citizens it is very easy to get Bitcoin. Download the Cash App, for instance.
Square (ticker: SQ) Bitcoin sales are exploding.

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