Is the upward trend here until Christmas for Bitcoin? Or is this just the beginning?
This year has seen rapid growth for Bitcoin as more and more people educate themselves on crypto currency and the foreseeable future it has amongst us.
With the trends of the dollar, the euro and the pound going in a downward spiral is it any wonder people have simply had enough? Making them want to invest for their own future not some rich politician or banker who manipulates the market to their own agenda.
Initially with a new market comes questions fear and reluctance to participate. The history of money has profited the few resulting in a rich to poor gap which has never been so vast as it is now.
But what is clear is the way the fiat currency - like all fiat currencies are losing value and confidence in the market. When Obama signed the bailout bill of 800 billion dollars making him the single president to spend more than all other presidents combined, this in short kept the economy afloat. However the value of the existing money supply as we see today is plummeting as a result.
What makes "value" is somethings scarcity- if gold came down in abundance you wouldn't grab as much as you can and hoard it - on the contrary. This would become a nuisance resulting in people sweeping it out their front doors. - An extreme analogy but none the less an important one.
People are reluctant to change, we are fond of familiarity and hesitate to jump onto something unless we see others having confidence to do so first.
Now Bitcoin has had a run since the crash in 2008 , more and more people see the value in the scarcity of Bitcoin and crypto currencies making them want to jump on and invest for their future.
Further more as the likes of Virgin and Lamborghini have accepted Bitcoin this leads the way for more investment from major companies. Giving more credence to the currency.
With the upcoming fork leaving many people questioning the outcome of people's intentions towards Bitcoin, their is uncertainty as well as belief. For many they will see the rise in the currency and want a piece of the pie educating themselves where they can to acquire as much investment as possible.
What's left to see is people's intentions with the Bitcoin price. Is the rush for Bitcoin one to quickly cash out when they acquired Bitcoin cash ? Resulting in a transfer back to dollars ? - as people need to survive despite their belief or lack of in the fiat currency being dollars, pounds or euros.
For the Long term there is no reason why the upward trend in the market for crypto currencies cant continually rise , If people have belief in the crypto system. This is true for some established alt coins as well, enjoying substantial rise against the fiat currencies.
Quick cash outs reverting Bitcoin back to dollars /pounds or euros for short term monetary gain is like treading water. It's best to invest a little for a long time , rather than a lot for a short term gain. Look at the initial successes of the crypto currency investor who had a belief very early on and invested when the coin was merely established and gaining popularity. If they invested a few hundred pounds or dollars, today they would be sitting very comfortably indeed!
Sensible investments over time can prove to be a stable risk that's been accounted for and one that is affordable. Not a threatening risky venture that will make or break you.Planning towards a goal doesn't mean their won't be obstacles, it's how hard the obstacles are that is in hands of the investor.
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