Bitcoin Forum

I was passing through a telegram group and then I found this pic and it then occurred to me that bitcoin is the only currency that is worth keeping our money or worth investing in, as time goes on the value of fiat will depreciate due to inflation, and bitcoin would continue to skyrocket due to the concept of scarcity by the laws of demand and supply which says " as supply reduces while demand remains unchanged, the price increase thus creating scarcity" with this law alone I have come to understand that the price of bitcoin will continue to go up, and now is the best time to buy or accumulate more coins because if you don't, the end product would be regrets. Bitcoin halving is just next year and the halving is another event that is know to act as a catalyst to increase the price of bitcoin.

https://talkimg.com/images/2023/10/12/RFEY8.jpeg

Some one should help me post the image in this thread pleaseee

Image source link: https://t.me/bitcoin/8599 (https://t.me/bitcoin/8599).

@Heisenberg_Hunter, @TheUltraElite, @light_warrior, @Bitcoin Smith, @pawanjain, @pakhitheboss and my other superior please correct me if I'm wrong.

At the time I wrote this post, the price of Bitcoin was at $26,873.29  and today the price is $45,133.61. though it the market is know for it's volatility but in real sense Bitcoin is heading somewhere. rumors have it that Bitcoin ETF will be approved this week and if that happens, the price will keep appreciating in value. It's never too late to start investing and accumulating more Bitcoin. And aside that the bull run is just by the corner meaning we'll be experiencing two set of bulls this year.

One bull run is more than enough to run the entire year of "to the moon" comments. :D

Besides the ETF may get approved and that means the price will rise and correct at a much higher level than 50k USD in the coming months. But a cancellation might plummet the price back to 30k or even lower.

However this does not correlate with bitcoin being for the future. Remember that price going up means increased demand, it does not relate to "good" or "bad" - you can understand this better in the lines of altcoins that pump high but have zero value so they drop back so hard you cant even break even.

If you see bitcoin from its price point alone, then it is not the right metric to say it is the future of currencies. The decentralization is the key and the actual reason for bitcoin became successful, we don't know what will be the status of bitcoin 50 years later from now but if it becomes the preferred mode of payment then price can't be the only reason and one point it will reach its threshold value even as per the demand and supply law.

There is so much hype on the market due to the ETF approval speculation, but I am sensing the negative vibe for some reason so be prepared if there is a correction.

What the image tells is the reality of fiat currency. We all know USD is the global currency of the world and that it is widely accepted anywhere in the world. It is also one of the most printed currencies in the world. The US government to curb inflation keeps on printing USD wherein the supply goes up and the value goes down. In the case of Bitcoin, it is just the opposite and that is the reason everyone wants to have a piece of Bitcoin as its value will go up in the long term. From 2009 to 2023 you can check the value of Bitcoin it is only going up.

I have posted the image on your behalf.

Hey crypto time-travelers! Let's chat about the OG – Bitcoin. Is it the future of currency, or just a secret ingredient for time machines? 🚀 Jokes aside, isn't it fascinating how this digital wizardry is reshaping our idea of money? No suits, no ties – just decentralized, peer-to-peer magic. I'm no fortune teller, but Bitcoin's disruptive vibes are hard to ignore. Who needs a crystal ball when you've got blockchain, right? Share your thoughts on Bitcoin's role in the future of cash or any conspiracy theories you've cooked up. Whether you're a hodler, a skeptic, or just a casual observer, the Bitcoin rollercoaster is open for riders. Buckle up! 🎢 #BitcoinRevolution #CryptoTalks