Bitcoin does it again as expected! It has broke previous all time high prices and continues making new ones. As of today it has managed to break $89,000 price point, and it seems there is more to come. While nobody can predict the future accurately all the time, there are many great things to anticipate in bitcoin and crypto world towards the end of the year and upcoming new year. It has already been a great year for bitcoin, but enthusiasm around this new money continues to grow. Today all bitcoin hodlers are in a positive. It is definitely a time to celebrate. Congratulations hodlers!
One thing has always been very clear about bitcoin based on its past performance. It always manages to go back to its previous all time high price point, given enough time. And this usually happens within the four year cycle. That is a great feature. There may be other assets that does the same thing, but definitely not all. We can will almost certainty rely on bitcoin's price to go back to its previous high price at some point. That's why hodlers always end up being in the positive eventually. It has happened again. Bitcoin has proved this simple concept once more. The price may drop drastically or go beyond what we have excepted in the near future, that nobody can predict. But we can all agree that $89,000 is a new price point that we can rely on for bitcoin to go back if things turned downwards. It may take years, but shouldn't take more than four years.
Of course, we would want to see much higher prices. Breaking $100,000 this year would definitely be something amazing to see. May have predicted it would happen. So far many predictions are happening. Although I don't rely on anybody's predictions, general sentiment in recent years has been that end of 2024 and early 2025 would be a massive bull run for bitcoin. When bitcoin does well, amazing things happen in the rest of the crypto world as well. If crypto is a train, bitcoin is the locomotive. We already see few alt coins gaining in price as well. It is about time for an alt season. We will see what happens.
A lot of enthusiasm in the markets has to do with the end of election season in the US. I believe bitcoin bull run would happen regardless the political events, but it so happens that the four year cycles coincides with the election cycle as well. This time around, political environment may have more influence for the bitcoin and crypto enthusiasm. Not only this time we will have a pro-bitcoin president in the US, but also it seems government in general will be bitcoin and crypto friendly. After witnessing hostile behavior towards crypto from SEC, government agencies, and politicians in the last few years, the change is very welcome. Politicians promise, but don't always deliver. Time will show how promises will be delivered. At the very least, we can except less of hostility towards crypto. This should result in more innovations in the space and should push decentralized systems further ahead.
Decentralized systems are much needed. Not only in money and finance, but also for other applications like the internet itself. We have seen how traditional and new media haven't been the great source of information. While there are many who claim to innovate in web3 space, there are true decentralized solutions yet except for Hive. Hive has been true to is core mission and continues to deliver web3 tech in a very decentralized fashion. This hasn't translated into gains for its core coin Hive yet. The fact is there isn't anything better in the space yet.
Saylor announced that MicroStrategy bought $2 billion worth more bitcoins just recently at the price around $74k. Obsession with bitcoin continues for MicroStrategy and Saylor. And the strategy is continues to work. Just today MicroStrategy stock made its own new all time highs. $MSTR investors are being rewarded well. MicroStrategy's next three year plan to buy $42 billion worth more bitcoins looks like has already started. Bitcoin ETFs are growing. BlackRock is not going back either and keeps pushing forward with their bitcoin strategy. More and more companies and institutions investing or considering to invest in bitcoin one way or the other. Sovereign funds going into bitcoin will add another layer of complexity and competition in the market.
President Trump promised to start a strategic bitcoin reserve fund with bitcoins US government already has and potentially adding more. If this happens, wouldn't other countries also consider similar strategies? Germany can't anymore. They sold their bitcoins. But they are welcome to get back in and buy from market. It seems the interest and demand for bitcoin will continue and much higher scales than before, and bitcoin scarcity should only push the price higher. Is it too late for the retain to join. I don't think so. Sure, bitcoin's price is high to a full coin. But the future is in Satoshis, and we can always accumulate Satoshis. If numbers go up, it shouldn't matter if we have a full coin or not. Participation is the key. The main thing is, it is a fair marketplace, and it is a transparent network. Regardless how rich or powerful new players are, they can't break, amend, or break the rules. Decentralized nature of bitcoin will continue serving all and brining more transparency to the global financial system.
Hoping to see $100k bitcoin by the end of the year. If it happens great, if not there is always a next year.
