My Prediction about Bitcoin’s Bottom: Price: somewhere between $3200-$4300 Timing: sometime between Jan2019-Aug2019pic.twitter.com/AZDmMFTY0W
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I would say some kind of damage would be done to the US dollar at that point. I think we need to be wary of money illusion, where we take current numbers/ prices/ exchange rates as normative going into the future.
I agree with you 100% ideologically just think people getting comfortable with non physical, no governmental money might take a bit more time than you expect
I think the fat cats on Wall street will swoop in once the previous ATH is recovered. Leaving just a few pennies for the masses sadly...
It really comes down to the desire to hodl. I, for one, would hodl on to a large portion of my BTC at any price, even $1M+. So if most hodlers are like me and mining is reduced to a trickle through the next 2-3 halvings, it could happen.
Really? Why wouldn't you swap half your BTC for a real asset such as land, or a 100ft yacht, or whatever? It's just money right?
Depends on the world conditions but those are all seizable and btc isn’t
If you're talking about a depression then you'd want productive land.
I would certainly spend some so I could live comfortably. But flashy assets like yachts/mansions/lambos are best avoided as they will attract even more attention.
Yeah, I don’t think it can hit that without noticeably reducing the purchasing power of the dollar. I.e. if/when it happens, it will only be worth $100K in 2018 dollars.
There is a hyper-deflationary scenario aka the liquidity triangle, where monetary value flows downward out of assets and marginal currencies into reserve currencies and metals... and of course BTC at the bottom.
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