Bitcoin

Down 9%, Is Bitcoin a Once-in-a-Generation Investment Opportunity?

Published

9 months ago

29 April, 2024

Down 9%, Is Bitcoin a Once-in-a-Generation Investment Opportunity?

This booming cryptocurrency is an attractive long-term portfolio.

Despite an extremely volatile journey over the last five years, Bitcoinin (Bitcoin -1.96%) the price shot up 1,190%. It has benefited greatly from more optimistic sentiment over the past year and a half.

But after reaching a new all-time high of nearly $74,000 in March, the world’s most valuable cryptocurrency has taken a break. On April 24, it was 9% below the maximum price. This drop follows the broader cryptocurrency market.

The current configuration does Bitcoin a once-in-a-generation investment opportunity?

Why is Bitcoin worth owning?

It’s important to take a step back and first consider what makes Bitcoin such a unique asset. It clearly has something going for it that has helped drive the price up a lot in recent years.

Before the arrival of Bitcoin, there was no way for two people to send money digitally to each other without the use of intermediaries. Just think of all the different parties involved in an online transaction today, and they all get a cut. The pseudonymous founder of Bitcoin, Satoshi Nakamotowanted to develop a decentralized monetary network that transcended borders and was open to anyone.

Additionally, perhaps Bitcoin’s most valuable feature is the fact that it has a fixed supply limit of 21 million. As the demand to buy and hold this digital asset has increased over time, it is no surprise that its price has also increased.

A completely decentralized network with a supply cap has tremendous value in itself. Just look at the current monetary system. In the USA, for example, we have a currency that is constantly devaluing, as well as an increasing debt problem. Bitcoin is an alternative to this financial ineptitude.

Over time, a greater number of market participants and greater reserves of capital are learning more about Bitcoin’s attractive qualities. And that raised its price. The recently approved and launched spot exchange-traded funds have also opened the floodgates in terms of institutional involvement.

Should you wait for a better entry price?

After such an impressive run, investors are probably wondering how much more upside Bitcoin has. I believe there is still some serious potential to achieve returns that beat the broader stock market.

According to Unchained Capital, a financial services company focused on Bitcoin, only 1 in 4 adults in the US own any Bitcoin. This compares to more than 60% who own shares. I suspect that in developing countries Bitcoin penetration is substantially lower. As more people educate themselves, they will likely want to get some exposure.

Because Bitcoin’s main use case is as an excellent store of value, it often draws comparisons to gold. The value of all the gold extracted from the Earth is estimated at almost 16 trillion dollars. Given that Bitcoin has properties that make it superior to goldIt is entirely reasonable to assume that one day, the digital asset’s market capitalization, now at $1.3 trillion, could match or even exceed that of the precious metal.

I believe that 10 years from now the price of Bitcoin will be significantly higher than it is today. And if history is any indication, we may not see it fall much below where it currently trades. This means that investors should look to buy the crypto on the dip.

But to be clear, I also think it’s a smart idea to consider dollar-cost averaging in Bitcoin. If this is an asset you plan to own for an extremely long period of time, taking advantage of multiple pricing could be worth it. Just be mentally prepared for the inevitable volatility.

Neil Patel and its clients do not have a position in any of the stocks mentioned. The Motley Fool has positions and recommends Bitcoin. The motley fool has a disclosure policy.

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Bitcoin

‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

'This is huge' — Billionaire Mark Cuban issues 'incredible' Bitcoin and crypto prediction amid price slump

Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.

Subscribe now to Forbes CryptoAsset and Blockchain Consultant and “discover blockchain blockbusters poised to generate 1,000%+ gains” after the bitcoin halving earthquake!

The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.

Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.

Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market

ForbesElon Musk Suddenly Breaks His Silence On Bitcoin After Issuing Shocking Warning Of US Dollar “Doom” That Could Trigger Cryptocurrency Price BoomBy Billy Bambrough

Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.

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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.

“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.

“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”

John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”

Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious

ForbesCryptocurrencies Are Suddenly Bracing For A ‘Very Major’ U-Turn In China After Wild Price Swings For Bitcoin, Ethereum, XRPBy Billy Bambrough

Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.

Forbes Digital Assets

Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.

According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”

The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.

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Bitcoin

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows

Analysts are starting to pay more attention than usual to Bitcoin-proxy’s underlying enterprise software business MicroStrategy Inc.

How to better invest cash generated from operations is what originally prompted co-founder and CEO Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Va.-based company has adopted a two-pronged strategy of investing in the cryptocurrency instead of traditional assets like short-term Treasuries and ramping up its software operations.

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Bitcoin

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows

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CoinDesk is a awarded media outlet that covers the cryptocurrency industry. Its journalists follow a strict set of editorial policies. In November 2023, CoinDesk has been acquired by the Bullish group, owner of Optimistica regulated digital asset exchange. The Bullish Group is majority owned by Block.one; both companies have interests CoinDesk has a portfolio of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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Bitcoin

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Published

6 months ago

1 August, 2024

BlockChainGuardian Staff

Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech

Bitcoin has retreated from a six-week high as investors shift their focus to speculation the U.S. may sell seized tokens just days after Donald Trump vowed to create a government stockpile of the cryptocurrency if he is elected president again.

The US transferred $2 billion worth of Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a publish on social media platform X. Market analysis firms have speculated that the tokens are from the Silk Road marketplace, where customers used virtual currencies to buy illegal drugs and hacking tools before it was shut down.

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