This article talks about how Bitcoin's value goes up and down a lot because there is only a limited amount of it (21 million coins), and people want more or less of it depending on different things. It says that even if you missed when the price went very high, you might still be able to buy some at a lower price later and make money when the price goes up again. Read from source...
- The author of the article uses a hypothetical scenario of Bitcoin reaching $75,000 to catch the attention of the readers and create a sense of FOMO (fear of missing out). However, this is a highly speculative and unrealistic projection that lacks any solid evidence or analysis. It seems more like an attempt to manipulate the emotions of the audience rather than providing useful information.
- The author also tries to downplay the risk factor associated with investing in Bitcoin by claiming that its price is cyclical and will always leave room for entry at a reasonable price point. This statement is vague and does not address the inherent volatility and uncertainty of the cryptocurrency market, which can lead to significant losses for ill-prepared or unlucky investors.
- The author mentions that Bitcoin's supply is limited to 21 million coins, but fails to explain how this feature affects its price or how it differs from other forms of money or assets with a fixed or controlled supply. This oversight suggests a lack of deep understanding of the underlying economics and mechanics of Bitcoin and its network effects.
- The author briefly mentions some recent developments that catalyzed the price surge, such as adoption by large companies like MicroStrategy (NASDAQ: MSTR) and PayPal Holdings (NASDAQ: PYPL), but does not provide any details or evidence on how these events impacted the demand for Bitcoin or its perceived value. The author also ignores other possible factors, such as regulatory changes, security breaches, hacking incidents, or technical innovations that could have influenced the price movement in either direction.
- The author concludes by recommending investors to not worry about missing out on Bitcoin's potential gains and to focus on their long-term goals instead. However, this advice is highly subjective and depends on each individual's risk tolerance, financial situation, and investment objectives. What may be a reasonable and prudent approach for one person could be a reckless and irresponsible decision for another. The author does not provide any tools or guidance to help the readers assess their own circumstances and make informed choices about their Bitcoin exposure.
Positive
Reasoning: The article suggests that missing Bitcoin's run up to $75,000 is not a reason to worry as there will always be room for individuals to enter at a reasonable price point and benefit from the appreciation. It also provides factors influencing Bitcoin's price and recent developments that catalyzed the price surge.