Crypto Fears of 2021
It's fair to say that we are witnessing one of the biggest crypto pumps in history. Even bigger than the one we witnessed in 2018 i dare to say. The reason i am saying this is that this time most of the well-known cryptos broke one ATH after the other.
Also, this time many well-known companies and people around the globe either openly supported cryptos or "used" them in their businesses. In other, words you can now use crypto as a form of payment or to buy things in some of the most known companies around the world.
An example, of this, is Elon and Tesla, they bought 1.5 billion bitcoin recently and they said that will accept BTC payments for their Tesla cars. Paypal got into the game and now Visa as well, the same companies that they had somehow "banned" the use of cryptos, even banning accounts for using/receiving cryptos. What an irony!
Big funds got in the game as well like grayscale and MicroStrategy which are buying cryptos in bulk, in fact, they are buying quantities of BTC for example, bigger than what is mined per year. Don't forget the Mayor of Miami who openly talks about supporting BTC and wants to use it as a form of payment for his local workers, fees, and taxes.
Crypto Fears that Lie in Shadows
i won't talk about the amounts of money one can lose with these pumps and dumps but i want you all to see the bigger picture. I have talked about these things before and thankfully, because of the blockchain, the proof of it will remain forever.
I have two big fears that in my eyes are already happening but one of them we gonna "discover" it later on, or to say it better, we gonna perfectly understand it later on. The second one is more on the surface so many of you already know it and expecting it but i doubt that you all have taken the necessary precautions.
Fear of New Regulations and Taxes
Cryptos are becoming more famous each day and more people and businesses are adopting it. We don't know consider it a big victory if our grocery store next door adopts bitcoin because we already have some of the biggest corporation already doing that.
That means that btc and other cryptos have become celebrities. When you are a celebrity all the light shine upon you and you are in the spotlight in other words. Also, note that btc and a whole bunch of other cryptos created with the purpose of making our lives easier, safer and giving a chance to the poor people for a better life.
Now with all that spotlight, we have people like Christine Lagarde talking "bad" about btc and that is needed regulations because people are using it for money laundering. Also, other countries have already banned it like Nigeria or regulate it strictly, like India and South Africa. Tomorrow, February 12th, the G7 will have a conversation about cryptos as well.
They want to take a piece of the pie that's why we gonna have strong taxation and regulations in my opinion and they also don't want people to obtain that kind of financial freedom. Instead, they prefer when you work 8-12 hours per day for a minimum wage.
That's why Nigeria for example, banned it and India regulate it. They have some of the most unfair rich and poor systems around the world, their citizens are starving, they are unemployed and those for work earn close to nothing. Cryptos helped these countries and these poor people see a brighter day, but that has to stop because then who will take advantage of them?
Fear of Power to the Rich
Moving on to the second thing i fear, is that the rich will still hold the same power. With the cryptos, many everyday people became millionaires and slowly but steadily showed the crypto way to others and changed the world.
Some people who hold high positions didn't like that and still wanted to preserve the old order if you wish. Thus, the only way to do that is, to regulate what i referred to above and to take advantage of their wealth in order to make more.
Now, under some funds, they invested million and billion of dollars in order to buy countless bags of cryptos and be the wealthy leaders that can even manipulate these markets and rule the crypto game.
Thus what i am fearing is that while people selling their cryptos in order to buy a laptop or car or to live luxurious for a certain while, they won't have the chance to buy again. They don't see the bigger picture and the bigger picture which is already happening is that those big funds buy as much as they can.
That means that shortly there will be for example no btc for you and me to buy and if it is, it will be extremely expensive because of the high demand.
What i propose to all of you is to stop cashing out your cryptos for luxurious things at the moment expect if you already have become a millionaire and don't care. All those that use crypto for their daily groceries, to pay some bills are excluded ofc because i get it life is hard.
All those of you who can, please hodl your coins!, Btc reaching 50k is nothing in my eyes, we gonna see its price reaching at least 100k but ofc i can tell whether that happens in 2021 or 2025. What i can tell you for certain is that those 2 fears that I've got are already happening.
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