$30k is The New $30

The currency of the internet, and no I'm not talking DOGE here, has once again dived its nose into the $30,000 resistance level on the all time chart of Bitcoin. What has caused yet another dip for BTC is way out of my reach, but looks like there's buying pressure at these levels.

It's also way out of my reach who is actually selling at those prices and there's definitely a lot of liquidation going on for noob leverage traders. Talking leverage trading some of you probably know my take on this matter: it's pure gambling and I've quit that long time ago.

Bitcoin however is imo at the early stage of a new era, thus my title for this post "$30k is The New $30". There's a forum discussion screenshot on the internet from a talk from back in the early days of Bitcoin when it was a mere $30 a coin and some early investor back than was dreaming of a $100 Bitcoin.

Another one commented something like wait for it to reach $3,000. I bet that the one able to see a $3,000 Bitcoin is still in crypto and probably a millionaire now while the other being more than happy to 3X his initial investment is probably having similar personal finances with the ones he had back then.

Why $30k is The New $30?

Because we're talking of two major phases of recognition for Bitcoin. At $30 we had all sort of geeks and internet guys talking Bitcoin on forums and chat rooms trying to figure out how will it have a place in this world and now at $30,000 we see institutions and even small countries such as El Salvador or Paraguay that are finding the place of Bitcoin in their worlds.

On a shorter time frame we could also say that $30,000 is the new $3,000 and this level represents the unshakable dollar valuation reflected by Bitcoin's world acceptance. I can't say that Bitcoin will never go back under $30,000. It can even test $20,000, I have no clue in this regard, but I see something with Bitcoin and its dollar valuation.

I see a battle of who's accumulating more and I'm not talking the majority of the retail here. Smart money(financial institutions, whales and whatever) have done their due diligence and already know what they're dealing with, thus rushing in to accumulate Bitcoin at around $30,000 whenever the market offers the opportunity.

The traders are a different breed and they might really miss the point on Bitcoin and crypto in general as what they only trying to acquire is more dollars. I might be wrong, but I don't see much of a reality living in a digital world and still be using the dollar. It doesn't make sense...

As the current financial system is being disrupted by the blockchain and crypto industry those are not going to function on a dollar based economy. Just by looking at CUB Finance and one can realize that gradually fiat money is taken out of the equation. I don't want to become an old beaten drum, but the only thing we need right now is more ways of spending crypto and earning it in a true digital era.

At that point nothing could really stop crypto and the dollar valuation would not even matter as the means of exchange would be cryptocurrency. Contradict me if I'm wrong, but on a broad spec, $30,000 is the new $30. Have a great day and see you to my next post.

Thanks for attention,
Adrian

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