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2020 STARTS WITH BANG: China Adopting – MAJOR CATALYST!

Jan 1, 2020 | Wealth Articles

People are having trouble separating the fake news from the hard facts. In a time when China is reiterating its pledge to crack down on cryptocurrency exchanges while simultaneously promising to develop its blockchain technology, the key is to monitor your sources of information and distill the news down to what’s real and what’s just somebody’s opinion.

On one end of the opinion spectrum is ZenGo CEO Ouriel Ohayon, who declared on Twitter that cryptocurrency cannot become mainstream. But then afterwards, he modified his position and said that crypto can turn popular under certain conditions. Personally, I take opinions like this with a huge grain of salt.

You’ve also got folks like Silk Road founder Ross Ulbricht predicting Bitcoin at $100,000 “some time in or near 2020,” a forecast that’s somewhat vague but is certainly attainable as the Bitcoin halving event approaches. Bitcoin hash rates also indicate a sharply upward trajectory:

While the BTC/USD price has struggled through much of Q4, the hash rate has achieved an all-time high of 111.86 EH/s, allaying any concerns of a “miner capitulation.” History has shown that a strategy of buying Bitcoin after dips in mining activity tends to produce outstanding gains.

What kinds of gains can you expect? Judging from past occurrences of “miner capitulation,” a simple buy-and-hold strategy would have served any Bitcoin HOLDer well: 

  • January 2019 to June 2019: 283% gain 
  • August 2016 to December 2018: 3,188% gain 
  • June 2012 to April 2013: 4,165% gain 
  • February 2013 to November 2013: 5,715% gain

No one can guarantee similar results going forward, but if you really believe in Warren Buffett’s policy of buying when others are fearful, Bitcoin’s presenting you with a dip-buying opportunity that can’t be ignored. If this year proved that BTC cannot go to zero (as some commentators claimed in 2018), next year will prove that all Bitcoin dips are buyable.

If we’ve learned anything in 2019, it’s that not all digital assets will succeed but Bitcoin and blockchain technology will remain intact. Mid-year, Facebook’s Libra Project was presented as serious competition for Bitcoin, but now the hype has waned – even the president of crypto-friendly Switzerland has declared Libra a failure.

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Mark Zuckerberg and Libra caught a lot of heat in 2019, but Libra and blockchain tech are not synonymous. By all accounts the blockchain is stronger than ever, with none other than United Nations Secretary-General, António Guterres, acknowledging that the U.N. must embrace blockchain technology.

Instead of resisting it, the U.N. is leveraging the blockchain’s potential to make the world a better place for its marginalized populations. In Afghanistan, they’re using blockchain-based solutions to promote sustainable development, while in Hong Kong, the U.N. has launched a blockchain-powered tool to help prevent migrant-worker exploitation.

Blockchain tech’s influence is reaching the far corners of the earth – even in Mongolia, where a “blockchain pipeline” is currently being developed to export energy to neighboring countries. It makes perfect sense as Mongolia has an abundance of sunny days, wind, and coal, along with a growing number of Bitcoin ATMs and cryptocurrency users.

Bitcoin transactions. Courtesy: TradeBlock

All over the world, this revolutionary technology has come to symbolize freedom and possibility. Competitors like Libra might or might not succeed, but Bitcoin will achieve a fair market value of $1 trillion after May’s halving event. If this trend continues, the 330% Bitcoin-price gain from January to June 2019 could end up looking like a speed bump in comparison to what’s coming.

From hedge funds to ETFs, futures and options traders, and of course retail-investor interest, everybody’s going to be grabbing at Bitcoin and raving about the blockchain in the coming year. No need to put an exact number on the gains that are coming – just think about zeros and commas, and you’ll have an idea.

Best Regards,

Brad Robbins
President, PureBlockchainWealth.com

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Legal Notice:
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.

Please read our full disclaimer at PureBlockchainWealth.com/disclaimer

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The possibility of a bear market in Bitcoin is now invalidated. BTC against the U.S. dollar snapped through $8,600 so fast that the media didn’t even have time to report on it. #Marketwatch #Yahoofinance #Bloomberg #wsj

https://www.pureblockchainwealth.com/like-a-bumerang-bitcoins-back-the-mothership-sails-on/

The overnight futures market, which is more sophisticated and informed than the daytime retail market, is sending us a message right now: a Bitcoin bounce is coming and $8,000 will be ancient history. #Marketwatch #Yahoofinance #Bloomberg #wsj

https://www.pureblockchainwealth.com/death-cross-dollars-enters-bear-market-altcoins-could-fly/

In a time when China is reiterating its pledge to crack down on cryptocurrency exchanges while simultaneously promising to develop its blockchain technology, the key is to monitor your sources of information #Marketwatch #Yahoofinance #Bloomberg #wsj

https://www.pureblockchainwealth.com/2020-starts-with-bang-china-adopting-major-catalyst/

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