5 Reasons Why I Am Buying Bitcoin.
By GoPrimeXBT on Altcoin Academy
1. Bitcoin Halving
Bitcoin is very scarce and limited. Over time fewer bitcoins are produced because the rate of production keeps getting slashed into half.
The next slash will occur May 2020 and by the year 2040, all bitcoins will eventually be finished mining, capping us at 21 mil. Currently, we are at about 18 mil. Due to the scarcity, the price keeps moving up at a very alarming rate. This is the direct opposite of our current FIAT Currency where they keep printing new money as they please and depreciates the value of your hard-earned cash that you been saving up.
2. Power Figures
The president of the United States, The head of the Federal Reserve, and the Chairman of JP Morgan Chase. These individuals all publicly came out denouncing Bitcoin and sharing their dislike for it. First off, nobody even asked them to come and speak about bitcoin yet they feel so compelled. Hmm, I wonder why... There is a saying “don’t do as they say but do as they do” This is the perfect example of whats going on here, they could be secretly buying up Bitcoins behind closed doors while convincing you to sell or stay away from Cryptocurrency.
3. Bitcoin ATMs
The world’s first Bitcoin ATM hit Vancouver in 2013, and the total number of machines worldwide has grown rapidly to over 5,000 in 2019. The machines are run by 600 different operators and appear in prime city-center locations like gas stations, corner shops, hotels, and shopping centers. Along with the ATMs, the Bitcoin infrastructure as a whole is on the rise.
4. Facebook Coin (Libra)
What Facebook is creating their own coin now too? Yes, they are with big partnerships by many large organizations. This will include Mastercard, Paypal, Uber, Visa, Lyft, Coinbase, Spotify, etc. If they are interested then perhaps this just might be the future. This is a big deal, don’t take this very lightly, the had a few congressional hearings and meeting about Libra coin alone.
5. The Freaking Current Price
Before bitcoin, I was into the stock market investing and doing day trading on the side. Over the years you start to become more experienced and easily notice certain trends. With that being said, I see a heavily discounted Bitcoin Price sitting at roughly $8,000 as I write this 28 Sep 2018. I usually take a step back and look at the chart more in terms of weekly/monthly basis Rather than the 1-5 minute intervals… If you are a true long then you should be buying the dips and cost averaging. There’s a saying that goes like this “buy when everyone else is a panic”.
I am sure I missed some even better reasons why someone should be buying up bitcoin, I welcome any other suggestions here in the comments section that you think we should know about. Thank you for your time and if you need an awesome trading platform, Please tryout PrimeXBT.
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