Is the Bitcoin NGU (Number Go Up) technology still valid?
What is “NGU” technology?
Number Go Up technology refers to the correlation between Bitcoin’s difficulty adjustment feature and the 21 million supply limit. Given the scarcity of Bitcoin and its inability to be replicated, this has led to a rush to Bitcoin, which means that the price of Bitcoin will rise.
The price of bitcoin has fluctuated a lot over the past few months, so chances are you are wondering about this. With this article, you can learn why NGU is stronger than ever. While the price drop over the past two and a half months may have led to fear, confusion, and doubt (Fear, Uncertainty, Doubt) in the market. But Bitcoin will not disappoint, and it NGU technology is always up and running.
For those who have recently realized they are tied to the legal financial system, after learning about the underlying technology of Bitcoin, it is certainly enlightening and uplifting to realize that Bitcoin is a new type of financial system. However, based on the past two and a half months of consolidation, the lore of its past success doesn’t look real, especially for budding bitcoiners. Add to that the noise from new cryptocurrency holders and alternative cryptocurrency holders, and you may start to question your choice to go all-in on bitcoin.
For example, if you first bought bitcoin on February 21 of this year, you bought close to $58,000, which is the current all-time high. If you fast-forward to today, May 31, the price is slightly below $35,000. Of course, bitcoin’s price action has been moving sideways since late February, during which time it has experienced all the peaks and valleys. It may be hard to believe in NGU if you haven’t experienced it yet, and it can be maddening to follow Bitcoin’s daily price action closely when it’s not taking off, because it’s not soaring in price as all those rocket ship emojis on Twitter would suggest.
Here are five reasons to believe in Bitcoin’s NGU technology
Institutional investment is coming in. Institutional investors are coming into the space at an unprecedented rate, with huge deals being completed every day. This week alone, a major development will give Bitcoin access to more than 300 million bank accounts in the U.S. alone, thanks to a partnership between New York Digital Investment Group (NYDIG) and fintech firm FIS.
More maturity in on-chain metrics. On-chain data suggests that the consolidation phase will soon be over and the next phase of the bull market is about to start. A look at why can be found in William Clemente III’s performance on Anthony Pompliano’s podcast.
Bitcoin’s amazing annual returns. Bitcoin’s annual returns are absolutely staggering and unmatched by any asset in the history of the market.
Professional athletes lead the way in buying bitcoin. Professional athletes have incredible influence over people of all ages and walks of life, so when an NFL player announces that he will convert his entire 2021 salary into bitcoin, it’s an important message.
Bitcoin policy is lenient. There are currently eight active bitcoin ETFs with applications pending. And the SEC chairman, who knows more about bitcoin than any previous chairman, expects this year’s approvals to open the floodgates for capital that has so far been unable to access BTC exposure.
Overall, there are countless reasons to be bullish on Bitcoin and its NGU technology. Stick with the above, be bullish on bitcoin, and understand the reasons for the promising future for bitcoin holders.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/five-reasons-why-bitcoin-ngu-technology-works/
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