I know mainstream media is pushing this as a bubble, but I don’t believe that is the case.
Cryptocurrency is a serious game changer. Who here has tried to send money between banks on a Friday?
You have to wait until Monday before the funds are transferred. The first time I sent coins to myself from an exchange I was amazed at the speed. After doing so for a week or so I began to view a 5-15 minute transaction time as baseline.
Then I tried to transfer money from one bank acct. to another that I own early on a Friday morning. By close of business friday, when my funds had not arrived in my other account… it was clear a crystal that these banks are dinosaurs.
This is just 1 example of the value of crypto.
Another – transfer of value from one individual to another from anywhere on Earth to anywhere else on Earth… in 1-15 minutes, no middle-men, no exchange rates and associated fees.
Another – a store of value. This is what bitcoin is. The world - Europeans, North & South Americans, Asia, Russia & Eastern Europeans, Australians, & now the Saudis… they’re all pouring money in bitcoin, in part as a store of value. Fiat currency is the bubble. People are pulling money out of Gold (the traditional store of value separate from fiat) and putting it into Crypto (namely bitcoin). Bitcoin has the properties of a store of value as well. The supply is limited, it is difficult and costly to acquire (equipment & electricity & time), it can’t be counterfeited, it can be used as a means of exchange of value, and money in bitcoin is money not in a bank susceptible to economic catastrophe, inflation, negative interest rates (just look at Japan), subject to the whims of devaluation by central bank overprinting.
Honestly, I think that this talk of a bitcoin bubble is nothing more than the old guard who missed the train, who are dependent on the dominance of fiat currency, and who are desperate to discredit this revolution that is coming over the world.
My prediction, expect bitcoin to replace gold as the primary “safe” store of value. If that’s right, then bitcoin is dirt cheap right now, and in the next several years you are going to see 6 figure bitcoin.
Alt coins will rise with the tide.