Why Bitcoin Market Cap must continue to Rise
If you look at the price of Bitcoin you may think that we are in a huge bubble and that collapse is imminent, and I'm not here to debate if the market is going to crash or not, I'm here to tell you that if you ever want Bitcoin to go mainstream, in NEEDS to rise, and here is why.
Market Capitalization
Many people got really excited when Bitcoin hit a total market capitalization of 40 billion dollars, but to put that into perspective lets look at some other statistics:
-The total market capitalization of Apple Computers is over 800 billion dollars
-The total supply of the US Dollar somewhere in the 10 trillions
-Bill Gate's net worth is about 80 billion
Now looking at that Bitcoin's 60 Billion dollar market cap doesn't seem so big hu?
Why does this matter
So you may be thinking, "Why does market cap matter so much, It's just a number right."
Well that would be where your wrong. You see, the relatively low market cap of Bitcoin is one of the biggest causes of the high volatility in the space, which is one the the biggest thing that pushes more casual audiences away from the bitcoin space(While admittedly draw people in as well).
Conclusion
So after reading this small article hopefully now you understand why the market capitalization of Bitcoin must rise in order to become stable. This is in no way investment advice or speculation, simple stating a fact and explaining it. Thank you for reading and if you want to support my content you can donate below.
Bitcoin: 17CnwKFT5tamNG4vHCNxRKotzjnH1ay2V7
Ethereum: 0x69BD6a0F7222368f51cCCE98D6DbdAAfBEc019c0
Genesis code: SWBjqo
Sources:
https://news.bitcoin.com/contraction-of-total-cryptocurrency-market-cap-may-be-inevitable/
📌What is investment?
⭕️Usain Bolt has won 9 gold medals in last 3 Olympics and he has run less than 2 mins on the track. That's economy of effort.
⭕️Usain Bolt ran for less than 115 secs in total in his 3 Olympics and made $119 million dollars! That's more than $1 million for each second he ran!
But for those 2 mins he trained for 20+ years ! That's investment.
💢Think long term. Patience pays ❗️ THINK BITCOIN
thanks for the info :)
What do you think of Ethereum and Antshares?
Thanks! Ethereum to me is a great platform for smart contracts and that does make it really great, but I don't see why people want to to replace bitcoin, as it is not a payment platform and that is not the direction it is moving in. The thing about NEO(antshares) is that as I've looked at the project, it seems to just be a Chinese version of Ethereum with a few little extras, so on one hand it's not super new, but on the other hand it's appealing to a good audience that is large enough to keep growth in the coin. I would also say the staking system of the coin will give it a big advantage so I would say NEO is worth at least as much as Ethereum, so a good buy.