If You Take the Time to Think About It, the Current Bitcoin Price Is Already Fantastic
Few people understand this.
The date is September 9, 2020. At the time of writing, the Bitcoin price is $10,262. For some, that’s huge. For others, it is too little. It’s all a matter of perspective as always in life.
Those who have experienced a Bitcoin at less than $1,000 before 2013 and between 2014 and the end of 2016 will think that the current price, which is beyond $10K, is already fantastic.
Those who have only known Bitcoin since the euphoric year-end we experienced in 2017 will think that the current price is too low. It is true that in December 2017 the Bitcoin price reached $20K. We are therefore currently only 51% of the all-time high price of Bitcoin.
Bitcoin is a real monetary revolution. This has become obvious to a growing number of people in recent months.
It’s Time to Open Your Eyes Right Now, Bitcoin Is a Monetary Revolution
The sooner you understand that, the better for you.
This kind of revolution always takes a long time, but with Bitcoin, everything is going very fast. Some people can’t stand back and see how fast things are going with Bitcoin. You have to keep in mind that in 2010, just 10 years ago, Bitcoin wasn’t even worth $1.
Its price was just around $0.1.
The real winners with Bitcoin go beyond financial gain
In just over 10 years, the Bitcoin price has increased by +10,200,000%! This phenomenal return is unprecedented in the history of financial investment.
It has therefore naturally attracted more and more people over the past decade. Unfortunately, many of the people who came into the Bitcoin world did not then make the effort to bridge the knowledge gap to become Bitcoiners.
Coming to the Bitcoin world for financial gain makes sense. One would have to be blind not to see Bitcoin as the best possible asset to make big profits.
On the other hand, not making the effort to understand that Bitcoin is much more than just another financial investment is a monumental mistake that constantly costs those who commit it a lot of money.
Those who only see the financial gain with Bitcoin are the ones who lose the most money
Most recently, it was the Internet celebrity David Portnoy who fell victim to what I call greed. Convinced by the Winklevoss twins, David Portnoy bought $250K worth of Bitcoin.
Greed Is the Number One Enemy in the Bitcoin World
Don’t let this sin make you miss out on the Bitcoin revolution.
He then made videos explaining that he thought he was going to get rich from this investment in Bitcoin.
And then the Bitcoin price dropped from $12.4K to $11.2K in a few hours. This volatility in the Bitcoin price is not exceptional. For those who have taken the time to discover how Bitcoin works, and to believe in its revolution, this volatility appears as a feature.
For non-believers, the Bitcoin price volatility is frightening. And it is unfortunately fear that prevents investors from making the right decisions with their sense of logical reasoning. In these moments of fear, those who do not have complete confidence in Bitcoin let their emotions guide them to the wrong choices.
This is how David Portnoy sold all his Bitcoins at a loss. He would have lost $25K in the story according to what he said on Twitter:
Since his failed romance with Bitcoin, which lasted only about ten days, David Portnoy has become a critic of the king of cryptocurrencies by saying that the stock market is much more profitable.
You need to understand why you need Bitcoin before you buy it
The example of David Portnoy is unfortunately not an isolated case. An incredible number of people end up disappointed with Bitcoin because of a fundamental problem: they don’t take the time to understand Bitcoin.
If you consider Bitcoin only as a financial investment, you have a maximum chance of losing money with Bitcoin.
Indeed, you will not be able to adopt the best strategy with Bitcoin: Buy then HODL Bitcoin. However, this simple strategy is the one that works best. There is no need to make life complicated to achieve great things very often.
The Best Strategy With Bitcoin Is Also the Simplest One
Many people often ask me what my strategy is with Bitcoin. I may surprise you, but it is actually extremely simple…
If you have full confidence in the Bitcoin revolution, you will be one of those who HODL Bitcoin no matter what. These HODLers were there in 2013 when the Bitcoin price reached $1,000 for the first time at the end of the year. Many of them sold at that time with a significant profit.
Those who sell or spend their Bitcoins always end up regretting it
Those who had HODL Bitcoin at that time despite the temptation are even more rewarded today. Those who gave in to the temptation to sell their Bitcoins bitterly regret it. This is a great lesson to remember when you enter the Bitcoin world:
You will always regret selling or spending your Bitcoins sooner or later.
When someone asks me how long I count HODL Bitcoin, I always answer the same thing now: Bitcoin HODLer one day, Bitcoin HODLer forever.
That’s how long I plan to HODL Bitcoin. I am so convinced of the success of the Bitcoin revolution that I don’t intend to sell or spend my Bitcoins. Bitcoin gives me the power to opt for low time preference.
Between 2014 and the end of 2016, Bitcoin has remained well below $1,000. The real Bitcoiners continued to HODL.
The hardest part is to HODL Bitcoin when a Bull Run blows up its price
The impressive Bull Run that we experienced throughout the second half of 2017 made it possible to distinguish between real Bitcoiners and others. When the Bitcoin price reached $20K, I continued to HODL Bitcoin. Real Bitcoiners too.
Bitcoin is promised to reach much higher heights in the future. There is no reason to sell your Bitcoins to make a profit at that time. Some who become Bitcoin Traders have preferred to sell for profit, but it is rather risky unless you have strong trading skills.
However, a majority of people do not have these skills. For the majority, HODLing Bitcoin is the best strategy. The one that allows you to take advantage of the revolution with peace of mind.
In 2018, we experienced a strong bear market that lasted for many months. At the end of that year 2018, the Bitcoin price was just over $3.2K. The real Bitcoiners continued to HODL Bitcoin no matter what.
A Bitcoiner sees in these declines in the Bitcoin price an opportunity while non-Believers are just afraid. It is an opportunity to accumulate more Bitcoin. While many predicted the death of Bitcoin, it has risen even stronger like a phoenix.
Bitcoin Is Like a Phoenix That Grows Stronger After Each of Its Obituaries
Bitcoin will recover even stronger from the crisis the world is going through.
Buy, HODL Bitcoin, Iterate, and Be patient
Its price started to rise again reaching almost $14K at the end of June 2019. At that time, the real Bitcoiners continued to HODL Bitcoin. In 2020, as the world was hit by the coronavirus pandemic, an unprecedented liquidity crisis gripped all liquid markets in March.
The Bitcoin price lost more than 50% of its value in just a few hours, dropping from $8K to just $3.8K.
Again, this was an opportunity to HODL Bitcoin and above all, to accumulate more Bitcoins. At the time, I was even talking about a sales period in the Bitcoin market.
This was confirmed with the very strong rebound in the Bitcoin price. Little by little, the Bitcoin price has increased to $12K. Currently, we experiment a little correction to $10K, but no need to worry, you still HODL the same number of BTC.
If you are patient with Bitcoin as a Bitcoiner is, the current price is fantastic. The constant that comes up all the time is HODL Bitcoin. This is the key to enjoying the Bitcoin revolution with peace of mind. This way you will be able to deepen your knowledge of Bitcoin.
Then you will understand that the price of $10.2K is fantastic compared to where Bitcoin comes from. More importantly, you will understand that the price of $10.2K is nothing compared to what Bitcoin will be worth in the years to come.
The $1 million is an increasingly credible goal for Bitcoin in the next 20 to 30 years. To be among those who will benefit from it, you need to be confident and do like the real Bitcoiners: HODL Bitcoin.
If you can do this, you will be among those who will be the most rewarded in the future. If you don’t feel capable, prepare yourself to have eternal regrets 20 years from now for having missed a unique opportunity in your life.
Not only will you not have participated in building a better world for all in the future, but you will also have missed the opportunity to enrich yourself and lead your life on your own terms.