THE FUTURE IS CRYPTO: Full Speed Ahead in 2019
Whether the mainstream press is merely forgetful or just plain disingenuous is up for debate, but what they’re ignoring is the fact that Bitcoin has already survived a dozen crashes of 30% or greater and has returned to all-time highs each and every time:
We’re now in crash number 13, and so far, it’s not the deepest one percentage-wise, though it might feel worse because the dollar amounts are bigger, it’s getting a whole lot more press coverage, and many first-time investors are experiencing their first crash ever (and the first one is always the most painful).
When we put a magnifying glass to Bitcoin’s bear markets, we can see how markets can dwell on negative events for a while until investors are ready and willing to jump back in. 2012, for instance, was marred by several negative events happening in rapid succession:
Courtesy: mosaic, longhash.com
Courtesy: mosaic, longhash.com
Compared to the current cryptocurrency correction, 2014 was deeper and scarier – but folks who held onto their Bitcoin enjoyed monumental gains in time. The battle was seemingly lost, but the war was won by patient investors who understood the technology behind the assets.
And speaking of the technology, we must look to the future of crypto and we can see the future right now as the sector expands into security tokens. In fact, Polymath CEO Trevor Koverko has even gone so far as to say that “Security tokens will save crypto.”
In contrast to utility tokens, security tokens represent ownership (or at least the right to ownership) of a real-world asset that backs those tokens. With a security token, you actually own a piece of whatever the token represents.
The majority of crypto assets are still utility tokens, but the shift towards security tokens is underway in 2018 and will continue into 2019. Whether it’s tokenized gold, real estate, or something else, ownership in a real asset is a strong incentive for investors to get back into cryptocurrency.
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SPiCE Venture Capital founder Carlos Domingo aptly explains the appeal and scope of this emerging asset class: “It’s inevitable that security tokens will transform equity just as Bitcoin has transformed currency, because they afford the owner a direct, liquid economic interest… Every type of ownership can be tokenized, which is a massive multi-trillion dollar addressable market.”
Also informing about the future of cryptocurrency is Bakkt, the open and fully regulated digital currency platform powered by Microsoft Azure’s cloud solution and partnered with BGC and Starbucks. According to CEO Kelly Loeffler, Bakkt will make it easy to access, trade, and use cryptocurrencies in the global marketplace and will “unlock the transformative potential of digital assets across global markets and commerce.”
Bakkt has high ambitions for the future of crypto, but the platform will be built upon principles that have withstood the test of time:
Besides, with the likes of Microsoft and Starbucks by their side, Bakkt is poised to add a strong measure of legitimacy to an asset class that is, in the grand scheme of things, still in its infancy.
Even with all of that in mind, investors still seek explanations for Bitcoin’s price action in 2018. What you must not forget is that most charts and trading platforms measure Bitcoin against the U.S. dollar – which, as it turns out, has been the best-performing asset of 2018. That’s right; after years of deterioration, 2018 happens to be the year in which the dollar outperformed everything.
But that’s the story of 2018, which is slipping into the past, and the U.S. dollar isn’t expected to stay strong for much longer. A look at history will easily convince you that inflation-wracked fiat money loses value over time, while non-inflationary assets like Bitcoin have considerably increased in value since inception.
Pure Blockchain Wealth is fully expecting and preparing for a shift in 2019 as the dollar weakens and cryptocurrency makes an astonishing comeback – though I hesitate to call it a comeback because it never left us and never will. It’s the real deal, and before you know it, the headlines will all be shouting it in unison: The future is CRYPTO!
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.
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