It was a matter of time
Apparently there is ''blood'' in the streets right now, as we are witnessing a strong correction taking place. But is it really that big of a deal?
In my humble opinion this is just the market, and the current swings were anticipated after the recent BTC bull run that took things to the next level and drove prices through the roof. This is exactly how things have always played out, and will probably continue to do so, in an endless cycle of FOMO and FUD successively taking each other's place in people's minds.
If you look closely, you don't get to see the full picture, so it always works wonders to just zoom out and have a better look at the charts. This is exactly what I do whenever I feel like selling my BTC, and it always helps me to relax and make sober thoughts. The moment I zoom out, all doubts in my mind just go away and vanish, and I am reminded that the cryptoverse is here to stay and will always keep getting stronger and healthier.
The future looks promising
It is no secret anymore, as western governments are already speaking publicly about it, that we are heading towards a new era for the global economy. They are openly discussing their intention to gradually eliminate the physical use of money in the name of safety or whatever it may be, but we all know deep down it's all about control. The thing is that the ongoing pandemic serves their agenda very well, and given the current situation it will be really hard to avoid a totally digitized global economy.
This is extremeley bearish for liberty, because the people will become more dependent on the government and central banking systems than ever before. Just imagine that the powers that be will have the authority and ability to just delete your account whenever they please, because you ''pose a threat to public safety'' for reasons they won't even have to disclose. Of course, this scenario may sound too far-fetched, but handing over my liberty and rights to the government and trusting them to treat me fairly is something I just can't blindly do.
We have to make the assumption that governments are inevitably ethical and benevolent, and unfortunately that is not always the case. The government is just a reflection of society, and consists of human beings just like you and me. We all know that people tend to get greedy, arrogant and self-centered, especially when placed in positions of power and influence, so asking me to just blindly trust any government is like asking me to trust sharks and swim next to them without a care in the world. It is not just against human nature, it's against the laws of nature itself.
May our weapons be true
And this is where cryptocurrencies come into play. Soon people will begin to realize that the cryptoverse is the only true safe haven there is for their hard earned funds. They will have to face the truth that cryptocurrencies are the only weapon the government can't take away from them, and when they do, they will start flocking into the cryptocurrency ecosystem, driving the prices to heights never witnessed before. Cryptography is our only way out heading towards a completely centralized future.
This is the very reason why we saw the price of BTC hitting the 41k mark in the first place. The global economy is getting destroyed by the politicians and their inability to handle the ongoing crisis without causing much more damage than the pandemic itself. And the fact that it's exactly the same story all around the world goes to show that central authorities would rather make decisions that serve and promote their personal interests than the interests of the people and their fair countries.
And it is also the reason why politicians never dare to make unpopular statements and decisions that actually do good for the economy itself. In other words, it is much more acceptable to receive massive loans and just give people handouts which will eventually destroy the economy twenty years down the road, than to focus on building infrastructure and building up a country's GDP at a slow but steady pace. People are after instant gratification, and politicians know it. This is why they would rather destroy the economy if it makes them more popular.
This explains the ongoing lockdowns and ridiculous restrictions put in place in the name of public health and safety. Politicians know that their political opponents will criticize them for not applying strict measures and blame them for the deaths that may occur, even if they are totally unrelated in reality. And so it is all a matter of political gain, and what's actually good for the people doesn't really matter. This is one of the significant flaws of centralized authority.
We are not done yet
Cryptocurrencies are a breath of fresh air in a world driven by greedy leaders, and more and more people are waking up to this fact. This explains why the total crypto market cap reached one trillion 12 years after the inception of BTC, and will continue to rise as the years and decades go by. And we can rest assured it will, because cryptography can't be stopped. Governments will have to settle and accept this no matter what they say or do. Technology is meant to serve the human race and allow it to thrive and survive, not to give limitless power to the few. It's inevitable.
These are some of the reasons I am very bullish about BTC and some other cryptocurrency projects. I've always thought about the stuff I mentioned in this article, but since March 2020 it has been more obvious than ever before that the cryptoverse is the last safe haven for the people. The only place where they are truly free to grow, communicate and exchange value in a completely decentralized manner, without being supervised by the government.
I do realize some of you have been around the cryptoverse for almost a decade now and it all seems like common knowledge to you, but please always keep in mind that it is not. The people do not know about this place yet. The vast majority don't even know about Bitcoin. Many of them haven't even heard about this economy. We are still in the very early stages; the cryptocurrency game is still it its infancy stage. If you believe BTC has exploded, just mark this article and read it again in 2030.
Accumulate while you still can
Personally I enjoy the ongoing correction and hope it will persist, even though I really doubt it. I am in for the long term and not looking to make a quick buck this year or the next one. I am working on my 2030 plan and filling my moon bags every way that I can. I really do believe that two halving events later BTC will be sitting at seven figures, so I will have to wait about 8 years to see if I'm wrong. But it's inevitable if you ask me, because the demand for BTC is constantly increasing, and the number of BTCs mined per block declining every 4 years.
The lack of the liquidity needed to satisfy the increasing demand during last week was the main reason why we witnessed BTC hit the $41k mark, and this took place in a world where the vast majority of internet users do not know a single thing about BTC, let alone alt coins and stuff. I seriously can't imagine what the future holds for BTC if it keeps drawing attention like it did the past 12 years, especially considering how difficult it is to mine it nowadays, and how much more difficult it will grow to be.
Thank you for your attention.
This is by no means financial advice. I'm just sharing my personal thoughts, and you should always do your own research before making any investment choices.
See you around, readers!
Great article. Thanks for the information.