Downvoted for facts? This place really is turning into fucking Reddit.
It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
BTC loses too much value in a day to be a good store of wealth.
Downvoted for facts? This place really is turning into fucking Reddit. It's a provable fact that over the last 4 months, Bitcoin lost around 50% of its value. Will it regain that loss? Maybe, but the fact is it fluctuates too much to be considered a stable currency.
Yeah, no one ever invests money for more than 6 months.
Bitcoin is a perfectly reasonable store for wealth, long term. It's worth about 5000% what it was 10 years ago (pretty good inflation hedge) and it's strongly positioned as an intermediary between fiat currency and all othet crypto so adoption is unlikely to drop, even in the face of government sanctions like we saw recently in China.
What it is bad for is banking, simply because of the volatility. If you can wait until the price is high to pull money then it's great compared to low-interest, centralized banks, and a 6-month low is maybe a good time to buy?
Yeah I think thats what some of these people are thinking when they say "a store of wealth".