The term has been thrown around since early 2017 as Bitcoin entered its 3rd pull run, and the price started to run into absurd amounts in fiat unit prices. As the price captured a lot more attention, so did many normies questioning how Bitcoin could be valued at multiple thousands of dollars per coin.
Now many Bitcoin educators would focus on the supply crunch from the halving cycle and the growing onboarding, but these concepts are pretty hard to distil into one tweet. Hence the oversimplification number go up or NGU.
Each halving cycle (every four years) brings the supply and, in theory, would drive up the price even if demand remains constant. This is why many Bitcoiners believe in its NGU technology which is baked into the protocal.
The simple answer is:
- Numbers go up IS GOOD.
- Numbers go down is bad.
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