I know there are a lot of people that are bitcoin elitist. They talk highly of bitcoin and its potential but I have a serious question that a lot of people push. Why is it that every body says hold until 2020. I get there is a halving but seriously why sell? It makes me believe that bitcoin will take a tremendous dive after 2020 if all these bitcoin "elitists" are going to be putting it into their bank accounts to buy hookers and coke. Thinking maybe I am looking at this wrong and should be investing in hookers and coke.
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Thanks for sharing... Love it.
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Yeah - you're looking at it wrong.
There are 2 reasons why people are saying hold until 2020.
One, as you've mentioned is that this is when the next halving happens and it's highly likely that the price will then increase.
This doesn't mean - and then immediately sell, just that if there was ever a reason to hold until then - that's it. Most people will probably continue to hold, some will take profit.
The other is that the financial systems of some countries (US in particular) is at breaking point and the amount of money printing is ramping up and up to the point where it's like a car with no brakes that's speeding up - they may be able to keep printing and kick the can a year or two down the road, but at some point it's guaranteed to crash.
When this happens - cash/fiat becomes almost worthless and only things of agreed intrinsic value retain usable value. So while $1000 might only get you a loaf of bread. An ounce of gold will be worth a lot more.
Some people feel that Bitcoin has become an accepted store of value like gold and that when the crap hits the fan with the economy - Bitcoin will be one safe haven for value.
It's possible that the US dollar will have collapsed by 2020, but if not - it will be further down that path, so holding bitcoin is a hedge for that.
But NOW is the time to get started.
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