Hi guys! This blog is less for you reading on steemit, and more for you to share to your friends or family that still gives you a hard time about crypto. The majority, if not all, of the people that are on steemit, are obviously involved in crypto one way or another. But, I have been getting a ton of flack from the people close to me since the latest market crash, that I thought I would write something up, just for the sake of getting it out.
As most of you know, The CFTC and SEC had a hearing with the United States Senate, and the overall message and tone was actually positive and in favor of crypto assets.
Mark Warner, a United States Senator, Vise Chairman of Intel Committee and early investor in Cell phone technology, predicts the crypto currency market cap will reach 20 trillion by 2020. He said this on record at the latest CFTC and SEC Senate hearing.
Let me put that in perspective for you. At crypto currencies peak, in December 2017, Bitcoin held 35% market dominance with a little over 800 billion market cap. One Bitcoin was worth just under $20k per Bitcoin.
Now we do some simple math... At the predicted 20 trillion market cap, and taking into account market dominance diminution remains constant (Which it won't, because the SEC will filter, crush and dismantle many, many alt coins in the near future, leaving most smart money into the top coins). But, for the sake of argument and for conservative measures, we will use 20% BTC market dominance for example. 20% @ 4 trillion MC, as well as 20 million mined Bitcoin by 2020, we arrive at 200,000 dollars per Bitcoin.
Do I actually think it will achieve those numbers? Maybe.. I'm not quite sold the $20 Trillion market cap prediction yet. I'm bullish, but not quite THAT bullish yet lol. But, this example was used as a reference to just how big this is. A Senator made that prediction, not some random kid who invested in crypto 4 years ago on Twitter.
If you think this is a fad, you're wrong. If you think it's a pyramid scheme, fraud or scam, wrong again. If you think that it's too expensive now, just wait.. If you are one of the many that say "I told you so" when Bitcoin loses 60% of it's value after skyrocketing 1800% in a year, you don't understand markets or economics. Non stop parabolic upward trends without corrections have only one outcome. Healthy pull backs that retrace back to previous support levels after massive influx of dumb money are necessary for price discovery of any asset.
The Senate realizes what you don't. The SEC realizes it, but you don't. CBOE, CME, and the NYSE are onboard with it, but you're not.. It's not about being right or wrong..It's about understanding what you are even arguing about. So many of you are against it just to be against it. You chant scam and fraud, with very little technical knowledge of the actual technology that drives it or even how it helps people around the world outside of your little bubble. You read a few mainstream media articles and now you are professionals on the topic.
I couldn't care less if you buy any Bitcoin. I understand that the cypherpunk libertarianism movement has created a bunch of greedy, get rich quick wannabes that won't shut up about bitcoin, and it drives you insane. Hell, half the people that actually do invest in it have no idea what it actually is..
Do some research on it, not from CNBC or the mainstream media, but actual, unbiased research. There are a lot of very, very intelligent people working on this project. There are a lot of very smart people that understand the value it can add to the world.
And for the record, if to the first time you heard about Bitcoin or Blockchain was in 2017, your opinion is worthless..
About me: I go by Bitcoin Blondie and I love health and wealth! I am passionate about anything that makes me feel good in the body, soul and mind as well as financially free!
