Okay, first let me just qualify that I hate saying I'm successful, but I think that having grown two separate companies to over 6 million in annual revenue would qualify me as such. But I just want you to know I'm not some crazy person screaming into the wind.
Here are my thoughts on Cryptocurrency. Is it a bubble? Yes. Are we near the popping point? Not even close.
Think back to the 2008 real estate bubble. You could walk into a room of 100 people and ask who had a 'stated income' mortgage or some other high-risk mortgage and probably 30% of the room would raise their hands. Then you could ask who was flipping homes or had a secondary residence they were holding on spec. Probably another 20% of the room would raise their hands. That's what makes a bubble. The wide-spread impact and reach of a certain industry or vehicle.
Now, walk into a room of 100 people and ask them what Cryptocurrency is. Probably 10 people raise their hands. Ask them how many own any, and I guarantee no one raises their hands.
You see, we're living in an echo chamber where we think that this is all anyone talks about. But it's not. Sure, Bitcoin is getting some attention, but nobody knows what the hell it really is. And no one is really going to be impacted by its ups and downs.
So, in terms of this bubble reaching saturation, we're still a long ways off.
Now, are there ways that this bubble could not pop? Sure. There's a bunch actually.
The biggest reason Crypto could very quickly become legitimate is the current relationship between the US and NK. If war breaks out, then people are going to get spooked. And fear drives speculation, and this type of fear would drive speculation into decentralization.
The second way it would not pop is if the US economy pops first. Which it most likely is going to have a sharp adjustment here soon. And when the dollar takes a beating, unemployment goes up, and things get a bit scary, crypto will again look like a safe haven.
The fact that crypto has been rising as steadily as it has WHILE the dollar has also been rising in value is kind of crazy.
In my opinion, I could see BTC get to 20k. And I don't think it'll actually take that long.
I'm very bullish on crypto as a whole. But I actually don't own that much BTC. I'm taking flyers on smaller currencies and tokens because I like the upside on those more, plus if I'm gonna gamble, I might as well go big or go home.
Any how, just my two cents.