Stocks are correcting. Bitcoin has held strong, seeming to find a perceived bottom, though it may decline in the short term, crypto as a whole is still thousands of percent higher than it was just a year ago.
I read a post hypothesizing that a crypto crash could trigger a stock market correction. I found that insane and impossible based on the sheer size of the stock market. Well, crypto crashed and a month later the Dow Jones has had the largest correction in years, including a 10 percent drop in the past week.
It has taken 6 years for the Dow to increase 100 percent.
I earned 100 percent gains in my first month or two of being in the crypto space.
THIS IS INSANE.
As the stock market continues to collapse due to the bond market fears and interest rate hikes to combat inflation. (Which supposedly has been lower than expected) The stock markets will continue to decline.
Investors will look for markets where they can turn a profit. Where will they look? The best return investment for the past few years has been crypto, by far.
Money will pour into the crypto market pushing Bitcoin to new heights. Altcoins will explode in a manner that will make Dec 2017 look like nothing, because the crypto market will be the only market going up.
Dollar hyperinflates (slowly, but we will see massive price increases nationally) People have no choice but to put their investments in safehaven assets like gold and crypto becuase the stock market continues to be in a downward trend.
But gold won't perform nearly as well as crypto. Gold is already worth so much. Crypto has so much room to grow. Investors will realize this and that crypto has far more utility than gold as both a store of value and means of exchange. Gold will decline in value, but nowhere as much as fiat.
Stories of Bitcoin and crypto millionaires will flood the headlines. The public will gain faith in crypto as their dollar becomes worth less and less. Your doctor and pharmacist and grocery store will be accepting Bitcoin and even offering discounts. Companies are forced to accept crypto because even though volatile, it will be riskier to accept USD.
The "they will fight you phase" will continue until one day you wake up and realize that it's harder to find a store that accepts your dollar than one that accepts crypto.
Then you have won.
You wake up rich, your parents 401k's are worthless and they wonder how they will ever retire or if in retirement they will be forced to go back to work.
You tell them to not worry, because you are an early adopter. They can live in your guest house on a beautiful beach. You told then this would happen years ago but they didn't listen and are grateful that you were right. They apologize for mocking you.
Everyone else is fucked.
You have won at life.
The end.
Edit:spelling.
[link] [comments]
from Cryptocurrency news and discussions. http://ift.tt/2EdpFSZ
No comments: