Is Bitcoin’s Number Go Up (NGU) Technology Still Working?
If this question has entered your mind in recent months, read on to find out why the evidence of the number going up (NGU) is stronger than ever. While the last two and a half months may have led some to fear, uncertainty and doubt (FUD), Bitcoin is doing well and NGU is going nowhere.
For anyone who has recently realized their slavery to the fiat financial system, taking the Bitcoin orange pill has undoubtedly been enlightening and exhilarating. However, the legend of its past success may seem too good to be true based on the last two and a half months of consolidation, especially for newly minted Bitcoiners. Add in the noise coming from nocoiners and altcoiners and you may start to question your choice to bet on bitcoin.
For example, if you made your first bitcoin purchase on February 21 of this year, you bought close to $ 58,000, which was the current all-time high. Fast forward to today, May 28, the price is just under $ 37,000. Of course, bitcoin price action has been anything but sideways since the end of February, but with all the peaks and valleys it’s been through, it can be hard to believe in NGU when you haven’t experienced it yourself. Keeping a close eye on the daily movement of bitcoin prices can be maddening when it’s not taking off as all those rocket emojis on Twitter indicate.
For those of us who might use a friendly reminder, here are five reasons to believe in Bitcoin NGU technology:
- Invasion of institutional investments. Institutional investors are coming into the space like never before and big deals are being done on a daily basis. This week alone there was a major development that will make Bitcoin accessible to more than 300 million bank accounts in the US alone, thanks to a partnership between New York Digital Investment Group (NYDIG) and Fintech firm FIS.
- Ripe metrics on chain: On-chain data indicates that the consolidation phase will end soon and that the next phase of the bull market is about to begin. Take a look at William Clemente III’s appearance in Anthony Pompliano’s podcast to understand why.
- Annual Bitcoin profitability. The annual rate of return of bitcoin is absolutely insane and has no comparison with any asset in the history of the markets. If you ever need a little inspiration to rack up more satellites and HODL in the long run, take a look at this bottom line table.
- Professional athletes take the initiative. Professional athletes are incredibly influential for people of all ages and walks of life, so when an NFL player announces that he will convert his entire salary from 2021 to bitcoin, he sends a message that is impossible to ignore. See why professional athletes are starting to demand their payment in bitcoin in this article.
- Approaching the avalanche of access. There are currently eight active applications for Bitcoin ETFs that are awaiting approval. And with a president of the U.S. Securities and Exchange Commission (SEC) who understands Bitcoin more than any previous president, his expected approval this year would open the floodgates to capital that has so far been unable to gain exposure to BTC.
Overall, there are countless reasons to be bullish on Bitcoin and its proprietary NGU technology. Keep the above and continue to educate yourself on the reasons for the bright future ahead for Bitcoiners.
This is a guest post from Josh Doña. The opinions expressed are entirely my own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.