Bitcoin’s Battle: Can It Survive Congress, the SEC, and a Global Crisis?
Many have ridiculed Bitcoin since day one. However, BTC has always had one thing they couldn’t take away: You.
You’ve been a good investor. You sat on your BTC, and you bought it when affordable. Also, Bitcoin was bullish, and you’ve reaped the rewards. Despite September being historically bad for BTC, it performed like a champ. Hell, you might have bought a round of drinks for everyone at your local bar or celebrated with friends.
However, you’re also aware that your crypto has enemies. And while BTC has shrugged off recent speculative attacks, its biggest challenges are yet to come. There are forces at work who want to destroy if not control Bitcoin. Because Bitcoin is a symbol of independence from the nanny state.
Congress and the SEC have plans to control Bitcoin, and those plans are waiting for the suitable climate to flourish. That climate is coming. With a looming vote on the infrastructure bill, the SEC’s plans to classify and regulate ICOs, and the imminent December 3rd votes to fund the government and avoid default, your investment could tank.
Although you can’t change the decisions of influential voices, you can control and be smart about your future. There’s a saying that when you’re about to absolutely give up hope, you’re only at 40% of what you’re truly capable of.
“There is always one more thing you can do.” says Hal Moore.
Are you ready to know more?
Maybe you have doubts. I understand that. After all, what can you do to prevent your investments from ruin against such forces?
Stay with me just a little longer.
Why should I fight if the odds are stacked against me?
I get it.
Congressmen and women get on the screen and make fine promises they never keep. Or worse, they pretend they did keep them and lie. They have no qualms breaking their word or oath to you. They’ve even been complicit in hurting their citizens.
Even now, they use government shutdowns and a debt default as bargaining tools for changes to bills they don’t like. And when they fight for these bills, who are they fighting for, you? If only it were true. Unfortunately, you haven’t paid congress’ salary for a long time.
They make their money through legislation that benefits those with bigger wallets than you or me. Millionaires and billionaires sign their paychecks. And, let’s be honest, they want to make the boss happy.
It’s hard to imagine a way you could have a happy ending going against juggernauts like Congress and the SEC. It can take hope right out of you, and you’re left wondering why you even bothered investing in the first place.
But, remember what I said earlier.
You still have so much more you’re capable of, even in the darkest of times.
Find your inspiration to keep going
I live in the city. Living in the city means you see a lot of state workers, a lot of tourists, and a lot of homeless. And I used to be a jerk to them. However, once I learned to stop being an idiot and develop compassion, I remembered how I grew up. I had been poor, too, although never homeless.
One of the homeless people I saw regularly met me near the Bicentennial Mall. I text him every month to see how he’s doing. So, we met and talked a bit, and he revealed to me that things were looking up for him. I asked, how so?
He proceeded to tell me he got a place to sleep with some friends and was making a little money part-time. I patted him on the shoulder and told him how great I thought it was. But what he said next made me grin from ear to ear.
I bought Bitcoin.
You see, through some previous conversations, I had told him what I do. He asked questions, and I gave him answers. I honestly thought it would go nowhere because he needed to worry about food and shelter.
He told me, yeah, I figured a way to have a little bit leftover this month, so I took $10 and made an account online.
This man was my hero.
He was really determined to get out of poverty, and he wasn’t giving up. I still think about it when I get whiny about anything I feel is too hard. But my point is, you’re not done yet. Your crypto investments still have work to do, and so do you, my friend.
Use your dreams to keep you focused
Imagine waking up in a lakeside cabin in the mountains, walking outside, and looking to a clear blue sky with fresh cool air filling your lungs. You’re on vacation. And you can afford it. Why? Because you held on. You didn’t give up on your investment strategy.
You remember back when Congress decided to pass the infrastructure bill. You remember all the court cases that ensued because of the vague language about crypto and brokers. You remember the day the government narrowly avoided a debt default because politicians played chess with your life.
But Bitcoin persevered. Sure it had its ups and downs through all the turmoil, but you bet on the long haul, and it paid off. Bitcoin reached $250K in 2023 after the Taproot update, institutional adoption, the Bitcoin ETF, and the latest halving.
You remember the dream you had about financial freedom and used it to beat back the fear. The fear of losing. The fear of stupidity. The fear of your resolve.
The dream above might not be yours. But whatever yours is, use it. Don’t forget it. Write it on something you see every day and repeat it to yourself. So you remember you are persistent, consistent, and you’re ready to fall in love with the process of staying on track with your investing.
It’s not about the goal. It’s about the process. Fall in love with the habit of investing in your crypto, and one day, you’ll realize your dream came true.
It’s a historical and evolutionary fact that humans accomplish more when they work together. It’s also said you are the five people you surround yourself with the most. So you need to connect with those who believe what you believe: that Bitcoin is the future of fortune where everyone can take part.
There are plenty of places on the web to find friends of Bitcoin.
Reddit, Facebook, Quora, TikTok, and more have all the para-social relationships you’d need to keep your wits about you and encourage you to continue your journey. Yet, there’s something energetic about real-world connections. So don’t overlook those. Find people who share your enthusiasm for investing and crypto.
Find people who think rich. Text, Talk, Facetime, or whatever you can do but keep those connections alive. With the constant influence of others who believe you won’t be so easily swayed to give up. No matter how many times the SEC comes after crypto or the government threatens a shutdown.
Who are your enemies?
You should also clearly define who your adversaries are in investing.
Congress, the SEC, the Fed, Wall Street, even whales are your most ardent foes, but it’s certainly not a complete list. Know the players against Bitcoin and for it.
There is a civil war of sorts in banking circles, with some banks adopting Bitcoin and some not. That’s good news for you. There’s a quote from (close to) the worst season of Game of Thrones:
“Let the monsters kill each other.” — Cersei Lannister.
Of course, here, I don’t mean literally but let them battle. The greed of your enemy can become an ally when they begin to eat each other. So, take advantage of it by using the time the battles give you to invest in Bitcoin. Every delay of their plans to harm BTC means you win another day.
Make a plan that you stick to consistently
The plan is simple, and I have no reservations about recommending it even though I’m not a financial advisor.
Dollar-cost averaging (DCA).
I’m not an active trader yet. So, I’m not going to play around while so many crazy factors threaten my crypto. But, when the seas become too rough, DCA will never let you down. And when I say never let you down, I mean it. The only way for DCA to not gain you a profit is if crypto fails entirely.
Sometimes, I can be pretty pessimistic, but I don’t believe the power exists to take down crypto.
Even if America banned crypto, it wouldn’t be the end. Why? Because there are many types of crypto, and they don’t have to pair with the dollar. You can pair them out over other cryptos, eventually leading to a gold-backed or other asset-backed coin.
If the absolute worst came and you found yourself migrating to another country, you could still have your Bitcoin investments without them tied to America.
That’s what Forex is for. Hell, for a long time, the biggest investors have international portfolios. You can do that too. So, you have options. And you can make a plan. Even if the worst happens, you can still succeed. There’s always one more thing you can do.
You’re a survivor
“It was the best of times, it was the worst of times” — Charles Dickens.
It doesn’t matter now what happens. The best case is everything goes fine through the winter, Taproot activates, and BTC continues its bull run through the spring.
Or, the U.S. defaults and bans crypto in a desperate attempt to keep you spending dollars. As I say, that’s a pretty extreme condition, but it doesn’t matter. Because it’s about you.
The Bitcoin Battle is about you.
It’s about your freedom.
And you’re strong and intelligent enough now to prepare for it. Of course, the waters ahead are choppy, but you’ve got a plan for that with DCA. And if everything works out, you’ve got a plan for that too: DCA.
Because if the price goes up on Bitcoin, you win. And if the price goes down, you win. The reason? You’ll keep buying. Whether it’s $10 or $10,000.
That’s how you defeat the enemies of your financial freedom.
The dust has settled, the smoke cleared.
Imagine yourself standing victorious on the financial battlefield as the smoke clears, revealing your silhouette.
You planted your flag and fought your enemies, not with force but with wits. You defended your Bitcoin from those who would rob you of freedom. It’s not a struggle you wanted to bear, but you knew you had this one life to make something of it. And you will.
Sometimes, to win, all you must do is outlast your opponent. And, using DCA in a time of uncertainty has never let anyone down. Sure, you might not get the largest gains ever, but you won’t lose.
And don’t forget what Warren Buffett says,
“The first rule of investing is to not lose money.”
It also happens to be the second rule.