Imagine a product that’s worth just $5 now, but in 10 years, the top experts in the industry predict that this product will be worth $1,000,000 – you’d probably call that a valuable investment, right?
Yet from the perspective of our modern markets, you could never invest in this product.
Bitcoin is the one and only product in the world that meets these criteria.
If you currently own bitcoin, you just joined a small and exclusive club. But not because bitcoin is rare, but because of its price.
Many people look at the demand bitcoin seen in recent years and think that bitcoin won’t last.
In their view, when bitcoin’s price reached record highs, many had lost their faith in bitcoin and sold their coins, so how could they ever believe in the currency again?
But truth about bitcoin is that it is not in a bubble and yes, the price of bitcoin would hit $1,000,000 if the currency continued to recover.
The potential for bitcoin is real, and experts like John McAfee, Max Keiser, and Roger Ver have been saying this for years. But what are the indicators that tell us bitcoin is not in a bubble?
The first, price, is a crucial rebuttal for critics. Bitcoin prices soared to over $400 from just $150 back in 2015, but when bitcoin’s price dropped to below $200, people flocked to buy, the price jumped back up to $260. This pattern has repeated itself; bitcoin goes up, the market fluctuates, then go back up.
Time is the second indicator. Bitcoin has been around for less than 10 years and has just broken $6,000; this would put bitcoin at $1,000,000 in 10 years if the trend continues.
Some people have been saying that bitcoin is in a bubble, but truth is that it is not. The past trends support this argument, and the best indicator is the historic trend. If bitcoin has just come out of not a whim, but a full blown financial crisis, then its rise in price is actually an indicator of a new era.