The question on everyone's mind.. well. The pioneer's minds anyway..
Will crypto value go up or down? I am of course not a financial advisor and this is just my opinion, but I am strongly believing this is a big deal and it is real. Here's a list of some of the facts and FUD (fear, uncertainty and doubt) that are out there right now.
Let's all earn our HODL hats and hopefully end up good on the other side!! We made it through this last week that was pretty rough but I think the future is bright in the very near and distant future!!!!
Facts
- The Value of crypto has been on a slow steady rise for years - Of course this past year has seen massive rise which is the only thing leaves any question if it will continue a rise or if it will drop back down to a lower support level.
- The adoption rate is much higher than ever before - All bitcoin / crypto used to be was something that was briefly mentioned in the news as some underground dark realm that was just an occasional news headline / click bait. Now you will hear groups of people at work talking about it and of course hundreds of thousands of people are flocking to the exchanges to check it out for themselves.
- Companies are jumping on board and affiliating with the blockchain / cryptos - As they realize the potential of the new technologies and is making people more comfortable with it.
- Governments are acknowledging bitcoin / crypto as a real thing. This is a major tipping point.. While people may see things like governments wanting to tax crypto as a bad thing it is really a good thing because that solidifies this as real in many people's mind which will bring more people in.
- More big names that have turned up their nose to crypto are coming around - They are taking back their statements about crypto. Prime example is Jamie Dimon.. Not sure if we'll ever see Buffett come around but he might just be riding his success out through the rest of his life
- Cryto is without a doubt huge. That is just undeniable.. The attention it has received at every level tell you this is real.
- etc... These are just a few few.. feel free to add more to the comments that were not mentioned but equally important
FUD (Fear, Uncertainty, and Doubt
- Value went up tooooooo fast (bubble)- This is one thing that I actually do think about.. While crypto is definitely real, will it come back to a settling point / support level but still continue a general up trend.. I only give this about 25% of happening because of the amount of money coming in from new countries coming on board and even the amount of new money coming in through the exchanges once they start allowing new users in again.
- Governments will ban it - While we all of course hate the government : ) we have to think about the main thing government is usually after.. money. They don't just want to make our live terrible. Government wants society to be calm and for them to be able to get their hands on money.. So they would potentially see this as an opportunity as something else to tax and thus still be able to bring money into the system.. You can use South Korea as an example in last week's mess. Everyone wanted to believe the government was cracking down on crypto while the whole thing was just government trying to do the two things mentioned above.. 1) Make sure they'll be able to tax it and 2) Make sure that there was some level of regulation over it
- This is a scam - This goes to the fact that you can't overgeneralize anything. Crypto is very real.. and there are for sure some scammers involved. There are always scammers everywhere.. The great thing about today is that information is so easy to access. You can easily research these crypto's for a measure of validity that the one you are looking at is legit / real. One easy sign is that if there is a ridiculous amount of hype / pump around a crypto then you need to slow down and check.. Anything that shoots up so fast that you are afraid to miss out will likely come down just as fast.. Look for good steady climbers that have a lot of people talking about their great tech and utility ( use in the actual real world as something more than a trading coin )