Re: How many times we will make the same mistake? - History repeats Again & Again!

Quote from: Upgrade00 on February 21, 2024, 06:26:29 AM

Quote from: Minor Miner on February 21, 2024, 05:25:43 AM

Maybe 10 years from now in 2034 someone will be doing this same calculation, that 10 years ago in 2024 if we bought Bitcoin we would have made 34600% profit. At that time maybe the price of Bitcoin will rise at 8 digits! Maybe I won't be around then but Bitcoin will be fine.

Past events are not indicative of future performances. The price increase during the first ten years of Bitcoin cannot be replicated over the next decades. It was starting from zero then and had a huge ceiling to be able to grow. We are still early now but definitely not starting from zero; an increase of $34600% from this point should be putting 1BTC at around a billion dollars, that's not realistic, except a supersonic inflation hits and fiat currencies becomes almost valueless.

I 100% agree with you here because it was more easier for Bitcoin to do $34600% while in lower figures than for it to replicate that same feet at this current price it's already at, especially in a very short period of time like the ten years period of time, because I really don't see Bitcoin hitting a billion dollars in ten years time even though it's a very attractive asset to invest in.