We are getting closer, every second seems a count down to the long awaited bitcoin halving. April 20th is the D-day. Predictions have been put on the table that will push bitcoin price beyond roofs. So who will make this gains if it works out exactly as predicted? Everyone? Nah, I don't think so. How many of us can even afford a quarter of bitcoin has it stands.
You should consider how the scenario will look when assuming the price doubles. Bitcoin has continued to slip from the hands of medium investors like gold and I feel it may be the last chance of them having it as part of their portfolio. I told a friend of mine, 'even if bitcoin should triple in price, you know you can't gain much having just fractions sitting in your investment portfolio. You'll finally have to sell and look for opportunities alsewhere'.
Trust me, a lot won't be able to hold on to it any longer when you realize you have a virtual asset worth what you've never owned before. Why not give it out and have a life I never had or I've always dreamed of? This is you asking yourself, afterall the long term holding in bitcoin has always been about a favorable price. The truth is, everyone has his wealth tolerance, there is a price you can no longer keep an asset. We have seen big names coming in to bite a huge chunk of this asset, this availability of huge buyers presents a liquidable opportunity.
Exception of just local holders, it will penetrate into lots of bitcoin mining (cryptocurrency) farms. We are seeing how difficult(mining difficulty) it is even at current state to mine bitcoin not to talk of another additional slash. Many mining pools had already gone bankrupt and others without financial power will have to join suit. The proof-of-work (pow) consensus of bitcoin is coming at a cost; high energy consumption with powerful and expensive computers will become a no go zone for the medium investor.
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You can't just doubt experience, the saying keeps repeating itself, 'the rich get richer'. The mining activity was lucrative to bitcoin miner (cryptocurrency) during that early phase. Slashing bitcoin into another halve from the current 6.24 bitcoin per block to 3.12 is going to be very challenging. It's rarity stands as an advantage, yet the capital to be poured in is high from here. There have been speculations that miners have already started implementing others ways to still stay in business; ways that has been term unethical. Let's make it a topic for another day.
You may be wondering why miners should run out of finance after accumulating bitcoin during those green pasture times. I personally see it as a result of inflation not in bitcoin but in fiat currency, adding to that, government fees and charges for running a mining pool increased even in seasons when bitcoin was selling below substantial price value. So yes, in general, the bear market that struck bitcoin and cryptoverse sent a lot packing.
We may not have predicted it may take this root or not this soon but yes it has. With ETF firms breaking the bank to accumulate as much as possible, bitcoin business will be for the rich, making it a safe haven against uncertain fiat times. Kudos, it's what we've always dreamed for only a pity a lot may not have any of this 'safe haven' virtual currency during that challenging times. Do you feel you've been outsmart by a niche of money moguls? If you can't stop it, own it. These guys have just realized hidden bitcoin potentials and are creating a fence around it.
What does this mean to crypto Industry?
Does It mean when bitcoin actually stays in the hands of 'big names and firms' the cryptocurrency industry will shut down. Hear me and hear me well, this game is just getting started. Bitcoin beyond the medium's reach present opportunity for the altcoin industry and the advantage here will be, on like bitcoin which was valued mainly for price, altcoin will present more. Just for instance, we know you can get rewards and equity for delegating your hive token. So why would you sell during price hikes when your rewards and equity will heighten too?.
Something huge is warming up for the altcoin industry, I see the bitcoin game repeating itself in the altcoin industry. It will first be tested with ethereum. Already we have heard of a proposal for an ethereum ETF, do you know what this presents for the ethereum network with so many projects under its canopy? Gold is becoming scarce silver and other rare metals are following suit, the new rich will be turning to virtual assets and bitcoin alone can't contain this financial downpour. Times are changing and this change is also coming with numerous opportunities. Inasmuch as there is a need to always make proper financial research, don't stay in doubt in this 21st century. Our eyes have seen the unbelievable.
To conclude let me add, the reign of local bitcoin holders may come to an end after this halving. This asset has grown beyond ordinary reach over the years and this achievement will even be heightened. I don't know if you'll be personally missing bitcoin, an inception virtual currency that has created and broken records all the way. Nevertheless, there is a need to look for opportunities early in the altcoin industry as it seems it will be the next big player in the world of crypto enthusiasts and medium investors. The advantages will be much over here when looking at innovations that has been adopted to make this blockchaintechnology even more interesting.
Posted Using InLeo Alpha