I realize that with a headline comparing bitcoin to “free money,” an explanation is in order. Let me first caveat my statement with this warning: all investments entail risk. As such, you will likely never find risk-free guaranteed payouts.
That said, I genuinely believe that bitcoin and most major cryptocurrencies present the closest thing possible to free money. And time is of the essence. If you’re looking to capture at least 25% returns with minimal fuss, BTC is the way to go.
Here’s why: at time of writing, bitcoin is trading just underneath the $8,000 level. Yesterday, the king of cryptos exceeded that threshold, while on prior days, it went rangebound at around $7,800. Technically, then, this digital asset wants to break free from this resistance level.
But it’s better than that. A few months back, bitcoin was treading water in $3,000 territory. Most of the weak hands had simply given up on the asset. As further evidence, the mainstream media stopped talking about cryptocurrencies.
Now that the virtual currency has decisively broken past multiple resistance levels, taking out $8,000 appears a foregone conclusion. Essentially, the real target here is $10,000. The five-digit barrier is where bitcoin truly captured the public’s imagination.
It also represents the cryptocurrency complex’s greatest failure. That is why bitcoin will almost surely get to $10,000. From there, who knows where this next leg of the bull market will take us?
$10,000 Bitcoin Is Just the Beginning
One of the criticisms that I consistently hear from the mainstream is that cryptocurrencies are emotional investments. That they are. But is that really such a bad thing?
Although also heavily criticized, the cannabis sector receives significant emotional monetary inflows. Without them, I highly doubt that marijuana stocks would soar like they have.
But it’s not emotions that purely drive weed businesses. Instead, this unfairly maligned market segment has strong fundamentals. Primarily, we’re talking about a viable revenue-generating sector that previously did not exist due to legislative irrationality. After clearly thinking about this simple concept, who wouldn’t get excited?
It’s the same principle with cryptos. Prior to the blockchain, the only convenient avenue for investments was the stock market. Now, you have an open-source platform where interested parties can conduct transactions at any place internet access resides. Moreover, traders are no longer restricted to arbitrary time schedules.
Most importantly, bitcoin de-levers the influence of the dollar and puts participants on equal footing. It’s a remarkable shift in how we approach investing and forms the reason why so many are “emotional.”
Therefore, $10,000 is just the beginning. If you get in now, you’ll likely get your free money and then some!