The doubt of Bitcoin’s ability to rise has been complied with for many years, and is likely to continue even as the price has reached millions, according to a Bitcoin counselor.
“I think it’s going to be that way for a long time,” bitcoin adviser’s luke broyles said Natalie Brunell at The Coin Stories Podcast on Friday.
“I think Bitcoin is at $ 5 million, $ 10 million or more, and people will still say, yes, well it’s 8% of the world’s owners today. It can’t go higher, right?” he added.
The doubt followed bitcoin (Btc) at every price milestone. Each time the property reached a new high time, critics asked the ability to climb further. During price correction, many doubt are assumed that it will never be recovered.
It could have been a “very long period of time” before changing
This year, Bitcoin has reached some new all-time highs. Most recently -Bitcoin reached $ 124,100 on July 14, According to In coinmarketcap. Since then, it returned to $ 108,978 at the time of publication.
However, Broyles argues that Bitcoin’s largest hurdle is not technical but psychological, as most people still do not believe it will improve their daily life. “Unfortunately, I don’t think many people will do the switch until they see it,” he said.
“I think it’s going to be a long time,” he added.
Broyles suggested that Bitcoin’s integration with real estate loans is more for adoption than convincing those who doubt Bitcoin to invest a small amount over time.
Bitcoin integration with real estate can push the adoption faster
“Like, it would be harder to convince someone who was more skeptical of Bitcoin, hey, you should buy $ 1,000 of Bitcoin for the next 200 months. Or be” Hey, you can reefinance your home again and convert this equity to Bitcoin, right? “Broyles said.
Related: The price of bitcoin has lost the key multiyear support trendline: a classic BTC fakeout?
“I think people are about to explode,” he said.
A lack of understanding is still one of the biggest obstacles to crypto adoption. According to an August 2024 survey conducted by Australian Crypto Exchange Swyftx43% of 2,229 respondents said they didn’t use the tech because they weren’t sure how it works.
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