What makes long-term gains a guarantee with Bitcoin

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Bitcoin reached a milestone as BTC miners officially produced the 700,000th block on September 11. With Bitcoin falling over the past six days, as confidence in the royal coin wanes, a return to the network to have a perspective on long-term adoption would be a good idea.

Bitcoin beats internet speed

While the 700,000th block of BTC was produced, it was noted that it took less than two years for Bitcoin to produce an additional 100,000 blocks after hitting the 600,000 mark in October 2019. At the time of the last milestone of 100,000 blocks, the price of Bitcoin was less than $ 8,000. . By then, 100,000 blocks later, BTC showed price growth of nearly 465% as it traded at $ 45.1,000 at the time of writing.

Since then, BTC has faced challenges such as environmental issues and numerous FUDs, and has taken significant steps in the form of nationwide adoption. After El Salvador on Tuesday became the first country to use bitcoin as legal tender, alongside the US dollar, the price of BTC fell in response to this.

Nonetheless, it was a big step towards adopting BTC. Speaking of adoption, analyst Willy Woo pointed out that Bitcoin is currently at the same stage as the internet in 1997.

Woo further pointed out that BTC will not reach Internet status of 2010 until the year 2028. To put this in perspective, this was around the time when Amazon Kindle was in fashion, and Apples iPad was introduced in the world. Earlier this year, Woo also predicted that bitcoin adoption was advancing at a rapid pace and that by 2025 there could be 1 billion bitcoin users, which was similar to the 2005 phase for the Web.

Source: Willy Woo

Notably, over time, the number of BTC addresses, unique exchange users, and chain unique users has steadily increased. As adoption rates continue to grow, that number will only increase. But when it comes to Bitcoin and cryptocurrencies in general, there is a lot of risk talk and skepticism in the market.

Bitcoin, a long-term bet

Looking at the size of the market for macro assets like bonds and stocks etc. it is pretty obvious that Bitcoin forms a smaller share of the market. Nevertheless, if we look at the length of existence of these asset classes in the same way, we can note that BTC is still at an incipient stage compared to traditional assets.

Additionally, the trend towards BTC adoption is a clear sign that the coin could gain mainstream attention by 2025, so skepticism and FOMO of being late to the party doesn’t count. In fact, its market size trajectory remains an asymmetric bet if someone plays the long game.

For comparison, Apple has a market cap of $ 2,462 billion, but the stock has been around since the early 1980s. It was not until the late 2000s that Apple stock prices experienced a high. boom. Looking at Bitcoin, the asset has been around for a very short time in the market and already has a market cap of around $ 865 billion.

For now, it’s not too late to jump on the Bitcoin bandwagon. In fact, if someone is in BTC for long term gains, growth seems to be a guarantee.

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