- February 19, 2020
- Posted by: icoblock
- Category: Crypto News, financial, News
It’s not the first time Bitcoin has reached $10,000, but the third in its history.
- The first was in 2017, when starting at $1,000, it climbed to an all-time high of $20,000. The route from 10,000 to 20,000 lasted just 18 days.
- The second time was in mid-2019, when from about $3,500 it went to $14,000 in the space of a few weeks.
This case is different from the previous ones. There’s been no excessive or hasty move. That’s why it’s thought to have stronger foundations. It is not based on investor enthusiasm or some contextual event. Although by its very nature the number 10,000 has something special. By 4 digits, the number is now going up to 5 digits. Change is great in psychology, you feel like you’re raising a level. And not just there. The media is starting to refer again to the “phenomenon” of Bitcoin. They’re starting to inform about it. People learn what halving is and some of the unique features of Bitcoin.
The only thing we can’t blame bitcoin for is that it hasn’t given opportunities to get it. We had seven whole months to buy below $5,000. Even a little one of his, a little bit. Because you can buy as much as you wish, even a few euros.
The price on the “dashboard” reflects the expectation. Only this time the infrastructure is much more resilient, much more welcoming. People have learned about it, even as a name. The institutions who have the “big pockets” are preparing to enter. Not only have some of the big players in the market been put in, but they are preparing the ground so that he can welcome the rest. There are legitimate providers and exchanges that comply with the laws of each state in which they are established and have official licenses from the authorities.
Everything’s ready for the long journey. Many say that is why we are at the beginning of a new, large, massive bull run ever in the history of Bitcoin. The next question is how much is the “enough” for the price of Bitcoin. Because so far we’ve been amazed.
Its course is nothing more than a path of constant denial of expectations, usually surprising us positively. Ten years ago, to buy 100-150 Bitcoin you needed 100 euros. If you’d kept them to this day, they’d be worth a million. Over the next ten years, how much will they be worth?
We now see people wishing to save their savings in Bitcoin, not euros or dollars or pounds. In Bitcoin? What a lunatic these are, many will protest. Why do we need Bitcoin? Having my money in the banks is secured, I withdraw whenever I want in the currency I use, I get interest, I have it as a means of saving.
Let’s see how many mistakes there are in the last sentence:
Secured? It’s hard to hear that from a Cypriot again. Withdrawal whenever you want from your bank account or online bank? Not so easy bro. Not even if you were utilizing the best crypto VPN service. So easily we forgot what happened in our country five years ago, when we learned that we could only make €60 a day from the money that was supposed to belong exclusively to us?
Interest, huh? In our time, it’s happy that anyone who doesn’t pay the banks on top. As for purchasing power, you better not ask Venezuelan or Argentinian.
But is it possible that the traditional monetary and banking system has so many drawbacks? This isn’t the first time we’ve been tricked into something we’re used to, that we feel so familiar, we haven’t puzzled about it.
Throughout history, the main method of communicating with someone over long distances was to send a letter. Her mission could take days, weeks, even months. Without any guarantee she’ll reach her destination. E-mail drastically changed communications. Messages are sent and received immediately, from anywhere in the world. Before its appearance, people did not understand the disadvantages of the old communications system.
This applies to the current monetary system. Most are not concerned about the disadvantages of the traditional way of trading. However, a new technology is already beginning to carve.
Times always change, only this time they run. They’re not waiting for you. Already in Hong Kong, the first official government license was given to Pawnhub, where it will accept your deposits in Bitcoin and give you interest!