One thing the big price spike in 2017 taught us is how to HODL
There are now many more people with BTC than two years ago, and this trend should continue. Holding a small amount can change a person’s life for the next decade or two.
HODL For the Future
With over 18 million Bitcoins now in circulation and as halving approaches, supply and demand will gain more importance than ever over the next few years. Industry experts advise anyone in the crypto market to own at least one BTC. Bitcoin pioneer Charlie Schrem estimates that 5-10 BTC will be enough to change a person’s life in the next twenty years.
Honestly the best way to hold #bitcoin forever is to get 5 to 10 BTC and keep it in the cold storage that even you can’t access. I truly think that 5 to 10 Bitcoin will be super life-changing money in 20 years from now. Everything else just spend and use as you want
— Charlie Shrem (@CharlieShrem) November 2, 2019
It may be on the right track, but most importantly, this amount is beyond the reach of most people. Not many of us have $ 45- $ 90,000 available for investment, so aiming for just one would be a more realistic goal. Binance pointed out that the distribution of the theoretical current supply of the flagship cryptocurrency and the world population leads to only 0.003 BTC per person.
— Binance.US (@BinanceAmerica) November 3, 2019
With only $ 27 for 300,000 satoshi, this is a far more affordable alternative for most people and can provide a good starting point for accumulating satoshi.
Bitcoin is better than fiat currencies
The situation for the global economy is relatively clear as central banks take desperate measures. This will put enormous pressure on most fiat currencies, which are still printed at the request of banks as the debt escalates. The world’s leading economy and reserve currency are in difficulty. The wind of change and the days of dollar dominance are coming to an end. A hundred years ago, $ 100 would buy the same amount of food, clothing, and household goods as it would have cost you $ 2,500 today. This is just unsustainable. Former Congressman and Bitcoin Bull Ron Paul commented on the ongoing devaluation of the dollar and the massive flaws in the current banking system:
The dollars that you work hard for are always buying less and less, yet the government tells you there’s ‘not enough inflation’.
The Fed is a government-created monopoly that counterfeits dollars by the trillions, and you’re supposed to believe that this is “capitalism.”
— Ron Paul (@RonPaul) November 1, 2019
Bitcoin is the solution to this (as was its original concept) and younger generations and institutions that buy and hold long-term are pushing prices up. Just a small amount of cryptocurrency can be enough to change your life if some of your pricing proves to be correct.