Jack Dorsey’s Square Crypto says bitcoin was just warming in the 2010s. Here four reasons why this dramatic prediction holds true.
Despite calls for its imminent demise, bitcoin has printed higher lows almost every year since it was born. Here are four reasons why the leading cryptocurrency is just getting started. | Image: shutterstock.com
- Bitcoin delivered investors the highest return on investment (ROI) of any security in any asset class in the 2010s.
- Jack Dorsey’s Square Crypto says, “This decade was just bitcoin warming up.”
- Here are four reasons to expect even more from bitcoin in the 2020s.
Square Crypto, the bitcoin division of Twitter founder Jack Dorsey’s Square Payments, rang in the new decade with a prediction.
Here are four reasons why Square Crypto’s assessment holds true.
Now why should you take any of these reasons seriously? Before you read this list, you may want to review this article I wrote in Feb 2019…
The headline was, “10 Reasons Bitcoin Will Party Like 2017 for a Massive Bull Run in 2019,” and in it I correctly predicted the 2019 bitcoin bull market.
The bitcoin price on Jan 1, 2019 was $3760. On Feb 21st, when the article was published, bitcoin was trading at $3893. As of New Year’s Day 2020, that figure is $7222.
I told you this was likely to happen, and I told you why.
1. The Bitcoin Price Floor Is Rising Exponentially
Bitcoin skeptics howl with glee every time the price swings wildly downward.
But the statement “bitcoin is down,” begs the question, “Since when?” And over its one decade-long existence, you don’t have to go back far to find that, “bitcoin is up.”
As popular crypto YouTuber Carl The Moon pointed out last August:
(Carl’s was one of the channels that got swept up in YouTube’s apparently coordinated attack against crypto YouTube creators in December for posting “harmful or dangerous” content.)
This multi-year trend of rising key support (fancy word that means something like “price floor”) for bitcoin’s price looks doggone near exponential to me.
2. Bitcoin Hasn’t Hit The Fattest Part Of The Fish
And there’s more than plenty of room left for that trend to continue. This innovative fintech product has hardly reached market saturation in 2020. In fact, the opposite is the case.
It’s still in the early stage of market adoption.
An Oct 2019 Crypto Radar survey (of 5,000 U.S. adults aged 18 – 65) found that only 6.2% of Americans own bitcoin. The results suggest that number is about to double, as 7.3% of respondents say they plan to own bitcoin.
The U.S. Census estimates the 18-64 population in 2020 at 202,621,000. So the survey finds roughly 12.5 million American adults own bitcoin.
Author: W. E. Messamore