Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BobLawblaw
on 09/12/2022, 20:40:34 UTC
Hello fellow Bitcoin "enthusiasts,"

I know that many of you are probably licking your chops at the thought of Bitcoin going on another one of its infamous parabolic runs, but let me tell you, you're all going to be disappointed.

First of all, let's look at the so-called "increased adoption" of Bitcoin by mainstream businesses and organizations. Yes, there are a handful of companies that have started accepting Bitcoin as a form of payment, but let's be real here, how many people are actually using it? The vast majority of transactions are still done using traditional currencies, and until that changes, the demand for Bitcoin is not going to skyrocket.

And even if there was an increase in demand, do you really think that would be enough to cause a parabolic rise in the price of Bitcoin? Please, spare me the "limited supply" argument. Just because there will only ever be 21 million Bitcoin in existence doesn't mean that they are all going to be worth a fortune. In fact, the vast majority of them are probably being hoarded by a select few, and the rest are being traded for pennies on the dollar.

And as for the idea that Bitcoin is a "hedge against inflation and economic uncertainty," give me a break. Do you really think that a decentralized, unregulated digital currency is going to be able to withstand a global economic crisis? It's not even backed by anything of tangible value, and it's completely subject to the whims of the market.

In conclusion, all of you need to stop drinking the Kool-Aid and face reality. Bitcoin is not going to experience a parabolic rise in the early new year, and anyone who thinks otherwise is deluding themselves. So please, for the love of god, stop spamming the forums with your nonsensical ramblings and try to have a little bit of critical thinking.