Bitcoin, when moon? This is probably one of the most asked questions in the crypto space.
If you are a newbie to the crypto space, when moon means: when will we see the all time high again.
It is ironic that Bitcoin started as an anarchist movement then it got into the hands of anti-social elements.
It has then got into the hands of nerd dreamers.
It has then journeyed into the hands of snake oil salesman who manipulated the market to it’s all time high in 2017.
They have cashed out and left the unassuming newbies to burn.
Consolidation is in works but are we witnessing 2016 repeat?
Since the halving, Bitcoin seems to be consolidating.
The question that lurks in the minds of those who were burned in 2017-18 is ‘will history repeat itself?’
In a way we are seeing a similar pattern as 2016 and 2017, and yet we believe we are going to experience a different type of bull run this time.
Our assumption that the bull run this time will be a long and steady one rather than an overnight shoot.
Our views are based on the factors we are noticing.
Factors that might take Bitcoin to the moon!
While we cannot tell you when Bitcoin will moon, we can tell you that the developments we are noticing in space are aligning the stars for the Bitcoin mooning.
Below is a partial list of path makers for bitcoin mooning:
According to Teeka Tiwari, millennials will contribute to the bitcoin adoption.
Teeka claims that “This global younger generation is set to inherit about $68 trillion worth of their parents’ wealth,” in his opinion “a lot of that money is going to find its way into digital assets.”
Kingdom Trust /Fidelity
Kingdom Trust entered into an exclusive partnership with Fidelity Digital Assets to help safeguard the Bitcoin invested through Kingdom Trust retirement plans.
Listen to these words from Ryan Radloff, CEO of Kingdom Trust, as to the significance of this move: “For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today.”
Venmo | Cash App | PayPal | Robinhood | Reddit | 711 and more
PayPal is rumored to have big plans in place to bring bitcoin to their platform.
Venmo is offering options for users to buy crypto through their app.
Cash App has been early to the game in offering bitcoin purchases via Cash App.
Robinhood which made waves by making it easy to buy fractional stocks has been offering crypto purchases.
Similarly, Reddit, 711, Twitter and many others have started to invest in getting associated with bitcoin and cryptos in one form or another.
We are harping on this aspect because this is how you make bitcoin and cryptos readily accessible to the masses.
Once masses start to look at Bitcoin in sats – a $1 Million dollar bitcoin will still sound cheap. It may not happen today but without these onramps it may never happen.
Good news is the on ramps are being built every day at an amazing speed to accelerate the mass adoption.
Fidelity Digital Assets
For masses to trust their hard earned money, you have to make it easy to buy and store your bitcoin.
Right now, the easiest way is through Coinbase. However, it only offers post-tax purchases.
When a company offers a secure way to acquire bitcoin through a retirement fund (meaning, pre-tax), then there is a great chance that people will start allocation a small 1-2% of their portfolio to bitcoin.
This drip of investments flowing into Bitcoin will create a sea of demand.
You can hate or love Coinbase, one thing is for sure, it helped bring more people to bitcoin and cryptos than any other platform in our view.
We have entered into cryptos through Coinbase and for that we are forever grateful.
We have been frustrated with Coinbase about their ‘crashes’ every time the price moves +- 5%. Hopefully they will soon address this issue.
Now, Coinbase’s plans to go public is great news for the crypto space in general because it means a crypto company will be trading on the stock market bringing awareness and liquidity to the crypto space.
Stacking up on sats before bitcoin moons
Double your BTC by stacking up on sats
We are personally investing a small portion of what we earn into Bitcoin each month, like clockwork.
It doesn’t buy us the whole bitcoin or even big fraction when you look at it from 1 bitcoin perspective.
However, when you start looking at Bitcoin in sats dynamics change quite dramatically.
For example, we try to buy at least 1 Million sats each month. At the current price of $9200, that translates to about $92.
As we said, it may not be much in material sense, but for us it is a discipline of gathering sats.
How do you double your BTC?
By saving your fiat in BTC.
Every time we skip an expense or save on a deal, we use those savings (again not big amounts) in sats.
If bitcoin ever reaches $1 Million, then those million sats worth $92 could be valued at as much as $10,000.
Obviously, there is no guarantee that this will happen and losing on a small amount from the monthly budget is not too bad from a pure investment perspective.
Our personal favorite. We use Celsius to earn interest in sats. We do not get a big load
of them but every sat helps. Celsius notification about ‘interest’ every Monday makes
Mondays are more bearable.
This company has gotten into hot water because of an issue that is not their mistake at all.
The company that Crypto.com banks with was declared insolvent and the company has been making arrangements to move their banking to another company.
User funds are not in danger, according to the company.
Besides this temporary hiccup, we think Crypto.com has a bright future in bringing more people to the crypto.
Crypto.com offers interest bearing deposits, collateral based loans and crypto cards so that people can use their crypto in the real world.
Similar to Celsius, BlockFi offers interest on crypto deposits and offers collateral based loans. These solutions pave the way for masses to try crypto and bring more use cases.
Rewards for shopping
One of the leading shopping apps which rewards its customers with bitcoin or cash when you shop at your favorite stores.
One of the easiest ways to earn bitcoin as a cashback for whatever you shop with pei.
Timebucks, pays you in bitcoin and cash for taking surveys, clicking ads, and many other simple tasks.
What is a Bitcoin faucet?
Faucets are more like a free give away of bitcoin in very small fractions every time interval or an hour. Initially, it was a way of giving users a small portion of bitcoin for free to create an awareness about it and help the adoption of bitcoin.
The faucets are then sent directly to your bitcoin wallet or any intermediary platforms such as coinpot for example.
A certain balance needs to be attained in order to withdraw your collected faucets to your wallet.
Here are some of the best bitcoin faucet sites:
Freebitcoin lets you roll a dice every one hour and the winning can range from $0.0003 to $300, with a withdrawal limit of at least $1.
Moonbitcoin lets you claim every 5 minutes but you need to connect your account with Coinpot to signup.
A simple walk through on how to claim your free coins.
Cointiply allows you to earn through different ways other than just rolling the dice every 60 minutes. You can also choose to take surveys, watching videos and playing games. Cointiply lets you withdraw your coins to Faucethub, another intermediary wallet, similar to coinpot.
Check out more sources on How to earn free bitcoin.
When everything fails, rely on dollar cost averaging
This is what we started off with.
Irrespective of price, we continue to put a certain amount of our savings each month in bitcoin.
This is probably the best way to ignore the noise around the price action of Bitcoin and continue to stack up on your sats.
Thank you for reading and sharing this article. Stay safe and healthy!
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