I’m 50 years old and I invested 10,000 in a Bitcoin IRA about 6 months ago when bitcoin was at $3,800. How much do you think I will have by the time I retire, 17 years from now?
By: Jaeho Sheem
Tags: Bitcoin

I’m 50 years old and I invested 10,000 in a Bitcoin IRA about 6 months ago when bitcoin was at $3,800. How much do you think I will have by the time I retire, 17 years from now? Jaeho Sheem Follow Mar 21, 2018 · 3 min read

According to Google Trends, the number two most searched topic on cryptocurrency is pricing. Price has slowly proved itself to be the determining factor for new investors on whether they want to invest or not. Questions determining price also differ between veterans and neophytes. Older community members usually ask questions about the philosophy of cryptocurrency, such as utility and purpose. New investors are looking to increase the value of their portfolio and focus on massive, immediate gains. Their questions usually are “When will Bitcoin reach 100,000 USD?”, “Is Bitcoin a good investment?”, and very frequently “How much will it be worth X amount of years from now?”

I am going to give a small PSA to every new investor on the blockchain. Nobody will be able to tell you accurately the price movements tomorrow, a year from now, or 10 years. In fact, nobody will be able to tell you the price of mainstream stocks tomorrow. Both markets work on the basis of fear and human psychology. And as history proves, human psychology is chaotic and often self-defeating.

If you are in the blockchain community at all, you will have heard the terms FUD and FOMO. FUD stands for Fear, Uncertainty, and Doubt. FOMO, on the other hand, stands for Fear Of Missing Out. If FUD is on one end of a spectrum, than FOMO is its counterpart. Your 10,000 USD investment lies at the heart, or middle, or the FUD-FOMO line. The reason why your question is unanswerable is because your psyche and investment will constantly shift along the line. What is worth investing in today, may not be true for you tomorrow. Now apply that mind-set to every single investor, big or small, in the cryptosphere. It is impossible to determine pricing with so many players and so many factors in play.

I can give you my personal opinion on the pricing in 7 years. It will easily reach 1 million USD in 15 to 20 years. I got this number after researching what the cryptowhales are saying. Stocks and cryptocurrency are a self-fulfilling prophecy. People like Charlie Lee and Mike Novogratz, regardless of your like or dislike for them, are essentially Delphi Oracles. If they say a coin is a good buy in terms of future price, the influence is immediate. People will flock into the ICO and buy the token out. In turn, the massive influx will drive the price up. The question remains, is the pricing indicative of a truly, good project or was it due to self-fulfilment from influencers?

To conclude, I believe your Bitcoin IRA will be worth at least a hundred time your ROI. If cryptocurrency truly delivers on its initial promise, your investment will prove its worth in the next 2–5 years. However, emotions are dynamic and so is the volatility of the crypto-market.

The big picture idea I want to impart is this: Price isn’t everything. While the news blasts the price of Bitcoin or Litecoin, you should be focusing on which projects have solid teams and platforms. Wealth will naturally follow an ICO that builds a working, useful platform. The cryptgame is changing by the minute and thinking about price as the sole reason to get into a coin will be the downfall of new investors as the years go by.

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