GOOD EVENING STEEMIT!
With crypto markets all selling off hardddd today, I wanted to use tonight's Steemit blog as an opportunity to bring back some common sense.
SNAP OUT OF IT KIDDIES, THIS IS THE SHIT YOU SIGNED UP FOR WHEN YOU GOT INVOLVED IN THE CRYPTO SPACE.
Relaxxx, move with the market, smileee.
I want you to forget about today's price action and focus on a quote from one of my new favourite Twitter accounts, @CryptoKirby:
Max #Bitcoin Supply: 21M
World Pop: 7.5B
Only 0.0027% can own a single $BTC
1 BTC for every 358 people
Current Supply: 16.5M
Market Cap: 74B
Just let those numbers sink in for a second...
So we have a very finite supply. We have a tiny number of the population owning Bitcoin right now. But we haven't seen Bitcoin adopted by mainstream investment funds at all yet.
Come on, the potential for Bitcoin PURELY AS A STORE OF VALUE here is huge. Add in the technology aspect of using it as a currency for fast verified payments via the blockchain and that adds a whole other dimension!
Are you relaxing yet? If you're not yet, then go and get a beer and take a look at the charts.
Yesterday I asked the question, when we should expect Bitcoin to hit $5,000 again?
I shared my clean, daily BTC/USD daily chart in that blog and showed my couple of daily zones where I'll be looking for a reaction. Well with today being called a hard selloff, let's just put things in perspective:
BTC/USD Daily
As you can see, price hasn't even dropped through the first pullback support zone!
Now this is either a very bullish sign, or shit is going to get a lot worse before it gets better...
No matter what the outcome of this pullback is, just keep things in perspective. Remember the stats I've spoken about at the top of this blog and just look at how bullish that Bitcoin chart looks even if it pulls back as far as $3,000.
It's like you crypto guys have never seen a pullback before. Just sit back, relax and buy the mother fucking dip.
Peace.
Related @forexbrokr CHART ART Blogs
When Will Bitcoin Hit $5,000 Again? Levels to Watch
Instagram: @forexbrokr
Website: www.forexbrokr.com
