Does Bitcoin’s NGU (Number Go Up) technology still work?
If this question has crossed your mind over the past few months, read on to learn why the evidence on the rise in numbers (NGU) is stronger than ever. While the past two and a half months have brought some Fear, Uncertainty, and Doubt (FUD) to some, Bitcoin is doing fine and NGU is going nowhere.
For anyone recently made aware of their attachment to the fiat financial system, taking Bitcoin’s orange pill was undoubtedly enlightening and exhilarating. However, the legend of past success seems too good to be true given the past two and a half months of consolidation, especially for newly minted bitcoiners. Add in the noise coming from NoCoiners and Altcoiners and you may begin to question your decision to go all-in on Bitcoin.
For example, if you made your first Bitcoin purchase on February 21 of this year, you bought nearly $ 58,000, which was the current all-time high. If you fast forward to today May 28, the price will be just under $ 37,000. Of course, Bitcoin’s price movement has been anything but sideways since the end of February, but with all the peaks and valleys it has gone through, it can be difficult to believe in NGU if you haven’t lived through it yourself. Keeping a close eye on everyday bitcoin price movement can go insane if it doesn’t start like all those rocket emojis on Twitter suggest.
For those of us who could use a kind reminder, there are five reasons to believe in Bitcoin NGU technology:
- Institutional Investment Invasion. Institutional investors are coming into the room like never before and big deals are being made every day. This week alone there was an important development that will make Bitcoin accessible to over 300 million bank accounts in the US alone thanks to a partnership between the New York Digital Investment Group (NYDIG) and the fintech company FIS.
- Mature on-chain metrics: On-chain data suggests that the consolidation phase is about to end and the next phase of the bull market is about to begin. Check out William Clemente III’s appearance on Anthony Pompliano’s podcast to understand why.
- Bitcoin annual returns. The annual return for Bitcoin is absolutely insane and is unmatched by any asset in the history of the markets. If you ever need a little inspiration to stack up more sats and HODL for the long haul, check out this table.
- Professional athletes take the lead. Professional athletes have an incredible impact on people of all ages and walks of life. When an NFL player announces they will convert their entire salary to Bitcoin for 2021, a message is sent that cannot be ignored. In this article, you will learn why professional athletes are starting to ask for payment in Bitcoin.
- Approach avalanche of access. There are currently eight active applications for Bitcoin ETFs awaiting approval. And with a chairman of the Securities and Exchange Commission (SEC) who understands Bitcoin better than any other past chairman, his expected approval this year would open the floodgates for capital that was previously unable to find its way into Engage BTC.
Overall, there are innumerable reasons to be optimistic about Bitcoin and its patented NGU technology. Stick to the above and read up on the reasons for the bright future that Bitcoiners has to face.
This is a guest post by Josh Doña. The opinions expressed are solely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.