It’s no secret that the mighty cryptocurrency is suffering rate drops the past month, but as far as the future is considered, it’s not quit the end of it, to say the least. What makes this current decent only a timely fall? The power of revolution, in short.
It’s Already an Economical Monster
You see the behavioral trends based on past phenomena. Look at the Dot.Com revolution and how it became to be the world as we know it today. If you remember, back in the year 2,000 when the “web” concept bursted out, no one really knew what the fuss was all about, and what will it boom to be. People have been dealing fiercely with technological investments without deeply understanding them, just like with the bitcoin trend. It is just common human behavior analysis. If i was to ask you what do you think about what would a few yellow smiley faces do to digital communications between people, the answer would’ve probably been “not much”. But what emojis did to social interaction is now history. Eventually, bitcoin will be used as a global payment form, it will be used to buy real estate, vehicles, home appliances, and pretty much every item that is utilized in our everyday life routine.
It’s a New Gold Rush
Back in the 70’s, new gold futures contract was initially traded in the NYC COMEX exchange. During the following two years it had an extreme decent in its price, close to 50% drop actually. The next couple of years after that showcased a substantial and consistent rise in gold price. When examining the gold bear market of this colorful 70’s decade, we can compare it to what is happening to bitcoin over market shifts. The major difference here is that it happens within a much shorter time scale. We can describe it as a process of a sharp drop followed by a soaring climb despite fearful market speculations which regard the future of bitcoin.
In fact, bitcoin trend is enjoying few advantages that gold trend didn’t have, due to the era it is traded. First, there is the mass information effect. Investors nowadays can receive actual online data that is generated on real time, without communication difficulties that characterized earlier times. Second, there`s the aspect of demand. Bitcoin`s demand is skyrocketing now more than ever and it’s a desired asset that progresses forward, growing widely in wise of public awareness. Third, the competition over bitcoin has also passed the gold competition, a fact that impacts a dramatic effect over bitcoin trading.
It is important to keep track of the pouring information and trading strategies, if you really aim to increase your ROI.