«Future of Bitcoin
We can compare bitcoin with some young rock star, who has recently become famous overnight. What does any new star do as soon as they suddenly get international fame and fortune? Of course, everything very volatile and dangerous. And we, the audience, follow each and every step they make. The same situation is connected with bitcoin. We met this new type of currency with positive feedback, but it can’t last forever, because it gets exhausted sooner or later. The positive feedback is followed with news, installing panic into our hearts.
So, what’s happening with bitcoin and what will happen with bitcoin in ten years? That’s what we will discuss here. It’s extremely interesting for those, who trade bitcoin and hope to get a fortune. This business is quite risky, because today you can win and tomorrow you can lose. That’s what day trading is all about. It can be fun and depressing at the same time, sometimes you want to fly and sometimes you want to jump off a roof. Your mood can change a thousand times on the same day.
You read news about bitcoin every day, you study the situation around bitcoin in various countries, and then you try to understand, which piece of news has influenced the bitcoin position this time. Of course, the latest news do influence the situation around bitcoin, but the whole cryptocurrency intrigue is not about several days, it’s about the longer game.
Right now different countries keep on printing real money in the hope to escape paying the debts, but this will bring us to the collapse of the whole economy. And if at that moment bitcoin survives (and we all hope, that this currency will survive), it will rise up to the heights, that we can’t even imagine (together with hard assets, including gold).
That’s what we all have to understand and remember: bitcoin currency is all about the long game. That’s why it is and it will always be profitable to have bitcoin. According to the current financial situation in the USA, the country is entering the final stage of debt accumulation, which will be followed by the total collapse of the global pyramid system.
We surely should keep this possible future in our minds and use only a tiny percent of our portfolios for day trading. It’s important to never go beyond this percentage. It’s similar to responsible gambling and here we have responsible bitcoin trading. That’s what we all should understand right now: bitcoin trading is like casino playing, so let’s approach it with responsibility and wisdom.
Now we’d like to tell you an exemplary story about Jamie Dimon, who is JPMorgan Chase CEO. This legendary person is a true king of megabanking establishment, and he surely knows how to get rich. Well, this famous person once said that bitcoin currency is a fraud. He promised to fire any of his employees, who would ever trade bitcoin. And guess what? His company was found to have been buying Swedish bitcoin ETF for a long time!
An amazing story, isn’t it? What is the moral of this story? Banks and people are no prophets. They don’t even have to be successful bitcoin traders. If they were really good at it, they would get the S&P 500, because it’s the most important point of bitcoin trading and holding the necessary index. Most banks has this S&P index below 500 and JPMorgan has this index higher. Let’s remember, that this megabank gets billions is various federal loans every single time the financial situation comes to another crisis. In other words, JPMorgan is enjoying a great help from ordinary taxpayers. But even this megabank can have hard times and the previous year didn’t bring much success to it, because it hardly was able to keep pace with S&P 500.