As we closely monitor Bitcoin and the broader cryptocurrency markets, it’s clear that many individuals are feeling the pressure amid the fluctuations. Just when we anticipate Bitcoin’s imminent surge to astronomical heights, it seems to falter. Instead of reaching for the stars, it takes a sudden turn, almost plummeting right back to Earth.
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It will make one nuts!
In my experience Bitcoin is best viewed thru a long lens. Invest in it with money you can sit on for at least 4 years. Trying to time it is a game for traders. Many treat BTC as a stock and go in and out of positions frequently. That seems expensive game requiring a lot of timing and fees for an asset that simply just goes up over time.
I see it as a scarce asset and buy with the aim of putting it in my control in my own wallet. They are not making more and holding the real thing will be much like owning a plot of land in NYC. You don’t want to sell it and buy it later and don’t want to mortgage it.
Let them play games and drive the price up and down , that is the definition of a free market. It is healthy and necessary to wipe out leveraged positions. Simply look at the 10 year chart and understand where this unstoppable train is headed.
Buying any amount over the next 5 years or so , holding it in a private wallet and not spend/lend it will create some fantastic wealth in 15 years. It’s just that simple and yet so hard for most to do.
In the end I boil it down to two thoughts:
Let it be for traders be traders and not your keys not your crypt’s
That is a great strategy and awesome investment mindset.
Thanks for the comment!