Negativity in Bitcoin Benefits Long Hodlers...

Across the web today I have been seeing a lot of negative and pessimism in regards to bitcoin, crypto, nfts and the whole digital assets as prices are falling. The current environment appears to be they hype in crypto is starting to wan. For those who look further out it should be ideal times to be buying crypto now, especially large market cap cryptos such as BTC and ETH.

Natural Pessimism Never Made Money

Yesterday while binging on Youtube videos I found one that was at the top of my list that intrigued me. The video was about students in 1966 making predictions of what 2000 would be like. What was intriguing is that majority of the kids, which most appear to be under 16 years of age, talked about nuclear war and global warming destroying civilization.

How the world would end due to mankind not taking care of the earth and how the planet is potentially destroyed by countries throwing automatic bombs against each other. The kind of pessimism these kids have made me realize that human can so easily think only negative outcomes even if they are unlikely to happen.

Hearing news or stories about nuclear war and global warming were prime concerns back in the time the kids were interviewed. This in turn lead them to believe the future would be what they hear daily.

Presently there is a lot of chatter going on that crypto bubble burst or that many hurdles and challenges facing crypto such as China's recent negative take on it or Elon Musk's twits interpreting negative sentiment. It won't matter what the news or discussions are it all revolves back to some sort of negative theme on crypto.

It took less than 10 years for BTC to set itself as an asset as from 2009 to 2017 its price reach the heights of over $20,000k each from basically zero. Thousands of altcoins were created since and many are worth hundreds and some even thousands each.

BTC goes down a little from its all time highs from $65k to $44k and some sound the alarm that BTC is a bust. But where were they when BTC was soaring from 0 to $20k or to $40k or $65k. Having negative thoughts or outcomes about something does not necessarily means that is the case. There is also a lot of benefits to weigh in on for cryptocurrency being a viable future currency for all to earn, save, and spend.

For instance many countries who have unlimited supply of their local currency is unable to contain inflation such as Venezuela and Zimbabwe. Stable tokens and btc has help curb some of the inflation as citizens living in those hyperinflation countries are using more crypto as a form of currency.

Borderless transactions in Europe and African nations are making crypto the go to currency for trade. Exchanges are popping up where users can trade crypto into their local currencies making crypto a viable medium to exchange for good and services.

Africa's Crypto Exchange Boom Source Article

The biggest them is the decentralization of cryptocurrency. The facts of having a currency that can not be controlled by one ruling party but can be used by all is more in favor now than ever before.

Conclusions

Sometimes what you hear and see is not what it turns out to be. Presently indeed crypto prices are falling but this won't dampen demand. As a matter of fact it may likely increase demand as those who wish to invest in it can do so at lower prices. The pessimism won't last forever just like how the kids in 1966 predictions of 2000 where most turn out to be way too negative to have ever had a chance to occur. The same goes with current crypto news. We may see some more selling but long term holders see the rainbow in the sky and are not worried of what the future has in store for crypto prices. Instead they hold and continue to live life as if it was whether or not crypto prices go higher or lower. Those are the crypto millionaires and billionaires. Which one would you like to be?

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!