Jared Lovell If you believe (as many Bitcoin maxis believe) that...

June 15, 2022 at 11:25 AM  ·  Comment — Archer T. Ships replied to Jared Lovell's comment.  ·  View on Facebook  ·  Markdown source

Jared Lovell If you believe (as many Bitcoin maxis believe) that Bitcoin is going to become a global currency on par with the dollar, then it will be worth somewhere in the neighborhood of $1 M/coin. Therefore, buying at $44 K _is_ cheap. However, a lot of buyers don't have a strong belief internally about the long term value proposition of Bitcoin. Instead, they buy based on short term increases in value, and panic when the number dips. So, large fluctuations in value are to be expected. (Note, I'm not a Bitcoin maxi. I don't think Bitcoin is going to end up a global currency. But I think that _some_ crypto will, and will go through similarly wide fluctuations in value during its growth phase. )