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Look at the pictures and talk

Look at the pictures and talk

Here's a chart of bitcoin prices since 2013 that you hardly see on other news sites.

The original graph has a lot of fluctuations up and down, but this graph has exactly the same data, but it is drawn on a "logarithmic scale" (usually used when the number has a large range of differences), which alleviates these Volatility peaks, thus allowing you to better see trend changes without distortion.

News sites need charts with wild swings to make the bitcoin price look more exciting, more dangerous, and more vivid, but here, we only focus on its trend.

On the basis of the chart above, we add a yellow trend line:

What have you discovered about the price of Bitcoin?

It is clear that the price has been trending up almost all the time.

Not a simple rise, in the first 5 years (not shown in the chart), the price rose from $0.003 to $135, and in the next 5 years, the price rose from $135 to $10,000.

The price will change, but the trend will not change

Hidden in the "mild" chart above is a 1,000% jump and an 80% drop, fake trades, manipulation, speculation, scams, fear of missing out and phobias, and the activity you see in many financial assets.

Let's put all that aside for now. Let's assume, you know that Bitcoin is a speculative investment, and now you have $100 in your pocket, what will happen if you invest it in Bitcoin?

Option 1: The trend of Bitcoin stops, history does not repeat itself, and finally Bitcoin returns to zero, and you lose $100;

Option 2: Bitcoin trend continues, history repeats itself, Bitcoin goes up 1000%, you get $1000.

Option 1 never happened, option 2 always happened. Which is more likely?

No one can predict the future, and it is not impossible for Bitcoin to stop its upward trend. Even U.S. stocks cannot guarantee a 7% annual increase (some experts even call for a return to the market stagnation of the 1970s).

Bitcoin is Overvalued Before You See the Big Picture

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(BRK.A stock price trend, August 4, 2019)

As someone who owns both, I don't think Warren Buffett's companies will ever capture all the wealth in the world.

But it is possible with Bitcoin.

Hundreds of trillions of dollars worth of "world wealth" could potentially be recorded on the blockchain and exchanged using Bitcoin. As the Bitcoin network grows, it will continue to capture more and more wealth.

Over the past decade, developers have made Bitcoin technology better, cheaper, and more usable. As the number of users and transactions increases, so does the number of Bitcoin wallets.

Some giants, like Microsoft, have already used the underlying blockchain technology of Bitcoin to solve real-world problems and services, and they have not slowed down the pace of iteration.

Recently, two Wall Street firms — Fidelity and Bakkt — were approved for the first time to sell investment products that use real bitcoin rather than paper equivalents. These companies have more plans to follow, along with marketing and advertising to keep attracting customers.

Every day in the future, more and more merchants and businesses will accept Bitcoin, and even the US state of Ohio now accepts Bitcoin for tax payments. Does this mean that Bitcoin's network will continue to grow?

If you believe in Bitcoin and think it is a good thing, you will naturally hold some; if you don’t believe it, are you really willing to miss the biggest investment opportunity in your life?

English link: https://markhelfman.com/2019/07/19/why-you-must-buy-bitcoin-even-if-you-dont-believe-in-it/ 

Original Author: Mark Helfman Compilation: Marshaka