Remembering we mentioned “Bitcoin Plunges But Does It Matter?” on November 13th which is just a week ago after Bitcoin feel to around $5,500 on November 12th? That’s right. It really does NOT matter at all because it rises again and it will still be going up and up and up for a foreseeable future.
Let’s put this way … … it’s a 47% increase or we should say that it’s a more than $1,500 USD increase so … if you only increase your bitcoins ownership by couple of coins, you would have increase your net wealth by thousands of U.S. dollars in a week. Remember that we said that if you invested 1 grand 6 years ago, you would have been a millionaire today? To be precise that you would have accumulated more than 3 million dollars according to last week’s figure.
Let’s Fast Backward to 2010
Let’s do a bit interesting math here. This time, we aren’t going to use 6 years ago bitcoin’s value as a base. We are going to go even one year further back which is 2010 when the bitcoin’s value is only $0.0025 USD per bitcoin. It’s a simple math … so … if you invested in only $5 USD which is cheaper than a cup of coffee from Starbucks or … a foot long subway, or a big Mac combo from McDonald, or a ice cream you get from a festival, or … well… you get the idea. Based on today’s Bitcoin valuation, you will have a jaw-dropping wealth of $16 million dollars. A number 16 with 6 zeros trailing after. 5 bucks for 16 millions… wow… that’s how crazy this cryptocurrency market is nowadays.
It’s Going to Burst?
A lot of people are saying that but no one can predict the future for sure. We aren’t saying that it will go up forever but in a foreseeable future, it will definitely do so. In our opinion, it will rise to, at least, $10,000 USD.
Also, there isn’t any market can be on the top forever. Market trends come and go. Wealth is created by knowing when to get in and when to move to another market. Now… cryptocurrency is still on the rise, so … it still has rooms for players to reap the profits. However, it will reach to the peak without a doubt. After that, there will be other rising stars replace its place and players will be enjoying the same game over and over again. Until then, profits are still here and people who are chasing wealth aren’t going anywhere.