BitcoinLong
BTC Long
Despite claims from many big investment sources that BTC is overvalued, is actually only worth $26,000 to $32,000 etc...I say HogWash.
First of all, nobody can place a fair value on Bitcoin, or determine what it is "actually worth" versus it's current price. Bitcoin, like anything, is worth exactly what someone is willing to pay for it. Also, its price and value derive from its scarcity - like Gold, they aren't making anymore of it. The question is, for me, what is the real future of crypto and BTC in the future as a store of value. It is all so heavily manipulated and subject to crashing at the drop of a tweet. However, all this aside, here is what I think ( for what it is worth) about BTC and should we be buying, or not. I posted a few weeks back that I thought 35K was actually a bargain for the longer term, and a place to start with a small position. I stress longer term, by which I mean a year out or more. I stand by my belief. It is possible it could even go below 30K this year, but I would be very surprised if it does for very long, and I would be adding below 30K.
As to the "actual" value of BTC, if anything has a bearing on it beyond speculation, it is just the world economy. And yes, we are recovering from a pandemic, but things are going to get better on the economic front as the developed nations recover and get back to work. Businesses and industries that were lost will be replaced by new, different ones. Think about medical supplies - masks, for example. This has been a great year for the medical supply industry. The airlines are going to continue to recover, and the world is going to go on. The time is now to start looking to this inevitable recovery when it comes to investing. If the crypto market is weak, that's when it's time to start buying. Just common sense. The more bearishness news I hear about an investment, the more interested I become and start looking at long possibilities.
So...ignore the big investment firms when they claim to know the fair value of BTC. Its a crock of horse crap. They only seek to manipulate the price down so they can buy it up. And again, when the big boys start saying it's time to sell, it really means it's time to start buying.
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