Bitcoin maximalist and developer Jimmy Song has warned nocoiners who are yet to buy Bitcoin that they’ll regret when the digital asset hits $100,000 valuation. This he said in spite of the dire market situation.
The crypto market has seen some bad moments of lately, with numerous top coins losing value at the range of 8-15%. Bitcoin dropped from the highs of close to $10,500 to the lows of below $8,000.
While that may not be an encouraging event, there are other factors that exude positive vibes for the crypto. However, Bitcoin, and the crypto market in general, look to be in a very comfortable position as compared to the rest of the global financial system.
The global economy supported by fiat currencies is taking hits after hits, with the latest setback being fueled by the outbreak of the Coronavirus (Covid-19). The stock market is staggering and oil prices are dropping by huge margins.
Governments are rushing to print more money in a move they call “quantitative easing.” A lot of crypto fans have shunned this move, terming it one of the evils of the centralized fiat system where governments can do whatever they like. Still, that hasn’t stopped some people from staying away from Bitcoin.
Bitcoin: Missing The Dip
According to Jimmy Song, people who are still wary of buying Bitcoin will be the ones to regret when the crypto hits the highs of $100k in value. Renowned blockchain author Jimmy who is an educator, and entrepreneur, shared this in a tweet.
Jimmy is optimistic about Bitcoin’s growth despite all criticism from haters. The entrepreneur believes a unit f BTC will sooner or later hit $100K valuation, and this would be sorrowful for those who think it is not worth buying.
In his opinion, Jimmy said that people who don’t want to buy now when the crypto is at the dip and cheap will remember the moments when they shied away because of fear. A lot of people, especially those who don’t understand the dynamics of the crypto market, fear that buying during a dip could bring them losses if the market drops further. However, in Jimmy’s opinion, that’s the kind of mentality that will bring them regrets later.
BTC Is Still Bullish In The Long-Term
It’s a fact that the crypto market, led by Bitcoin, has been affected by the current global crisis, but that doesn’t mean it won’t recover. In fact, Bitcoin has been touted as the best asset in 2020, both as a safe-haven to prevent government interference and as a store of value. With increasing adoption and the upcoming Bitcoin halving expected in May, Bitcoin is expected to trigger a bullish move that could take the crypto market in the next phase.
In this case, it’s clear that while Bitcoin is battling to maintain its value on the higher end, the optimistic sentiment within the community, coupled with the growing FOMO, will cause its spike in the near future. If that happens, nocoiners will likely be on the losing side.