The World is Changing, and You've Never Needed Bitcoin More
The times, they are changing. We have all heard the famous Bob Dylan song. However, those lyrics have arguably never been as relevant as they are today.
The times are changing, and you have never needed Bitcoin as much as you will in the near future.
It almost seems hard to believe, but we are already approaching the end of 2023. The last few years have flown by and felt like a complete whirlwind. We have gone through one black swan event after another, and just when it seems like things can’t become worse; they do.
We lived through a pandemic that caused countries all around the world to completely shut down, which has resulted in financial ramifications that have caused havoc, and we haven’t even begun to understand how deep these wounds really are. Inflation skyrocketed, interest rates were raised at unprecedented levels, and it is becoming a monumental task just for people to make ends meet each month.
If that wasn’t enough, a war between Russia and Ukraine broke out causing even more hardship around the world.
Moving on to the cryptocurrency market, things have been just as been and debately even worse. When covid panic first spread around the world in March 2020, the price of Bitcoin dropped in half in mere hours. There was even panic that the price could have gone to zero if it weren’t for the plug being pulled on BitMex, the most popular leverage trading exchange at the time. Just when people had begun to count out Bitcoin, it rose up and the next bull cycle began. Eventually, its price would reach $69k in the fall of 2021 before eventually fizzling out.
Great fortunes and profits were made, however, anyone who has been in the crypto market since 2021 can tell you that this market isn’t easy. In fact, since that time people in this market have had to deal with endless painful and difficult events. The difficult pill to swallow is that most of these events were actually self-inflicted wounds. Hedge funds taking on too much risk and going bankrupt, crypto projects becoming depegged and nearly going to zero. Or even flat-out fraud by the likes of FTX.
All of these things once again called into question whether this industry was finished.
But just when things seemed to be their most dire, that is when Bitcoin once again began to stand up and remind everyone just how important it is.
At the beginning of 2023, we saw several banks in the US began to collapse, causing panic all around financial markets. For the first time in recent memory, people in the US realized how trapped they are in the current financial system.
As the government stepped in to prevent complete chaos, the memory of what happened began to fade with most regular people. Most people don’t even realize that there is a storm brewing that cannot be avoided.
The US, which for better or worse is still the most powerful and influential country when it comes to finance; is in a world of trouble. They are raking on debt at unprecedented levels and it is becoming clearer by the day that there are only two possible scenarios that will play out.
Either they will continue to pile on so much debt that they become bankrupt and lose their place as the world leader. Or they will find a way to “hyperinflate” the US dollar in order to pay their debts.
The problem with this is that for everyday people, both scenarios are horrible. They will both cause the value of their savings to evaporate as time goes on. Just imagine devoting decades of your life to a job that you don’t even like that much, in order to save and have hope for retirement in the future. But as time goes on, the value of your hard work is stolen due to corrupt and unqualified politicians.
That is exactly what is happening right now.
As currencies are hyperinflating, there will be a return to assets that are scarce and maintain value. There will be a rush toward Bitcoin. As funny as it sounds, Bitcoin going mainstream would be a return to the life that we were all promised growing up. If we work hard at our jobs, save, and spend responsibly, we will all be able to retire. That we wouldn’t need to become investors to have a chance at being able to retire.
That is what Bitcoin will bring back to the world. If it goes mainstream, you would just need to work hard, save your extra money into Bitcoin, and then go out and enjoy your life without needing to worry about money. Every day people wouldn’t need to become investors.
Many financial experts have been declaring that we are on the brink of some type of catastrophic financial event. An event that will be remembered for decades. If that does take place, you have never needed Bitcoin more than you do today.
How about you? Will there be a financial meltdown in the near future?
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As always, thank you for reading!