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Merits 13 from 9 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlcoHoDL
on 22/06/2021, 09:37:37 UTC
⭐ Merited by LoyceV (4) ,BlackHatCoiner (2) ,LFC_Bitcoin (1) ,ivomm (1) ,serveria.com (1) ,Poker Player (1) ,somac. (1) ,JayJuanGee (1) ,Toxic2040 (1)
I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.
Well, at least we're half way there now Tongue

This is something that should make all of us very happy. $30k will not be here for very much longer, so we'd better make good use of it while we still can. I'm talking mostly about noobs, but it applies to anyone with some fiat to spare.

The way I see it is this:

1. Bitcoin is practically guaranteed (math, science and all) to reach 6 digits and beyond. $1M/BTC is a perfectly normal and expected (actually inevitable) price level. Bitcoin has to reach $1M/BTC, or else it won't be able to take the position and role it's been designed to take (i.e., as the primary store of value of the world).

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

3. Given (1), dips shouldn't worry us at all. Given (2), we should be buying any amount of BTC we can afford. Bob's degenerate buying spree of $500 a pop when he's already a multi-millionaire may seem illogical (it does/did seem like that to me too), but he knows what he's doing. It will be fun to see those $500 grow to $10k each, and beyond.

tl;dr: We are going through what could be the last deep 5-digit BTFD in Bitcoin's history. Worried? See (1) above. What to do? Apply (3), sit back, relax, and enjoy your wealth growing in your sleep (good one, Warren Buffett). Wanna buy 75" TVs and shit? Go ahead, but don't cry like a little girl later on -- I'm sure those pepperonis were really tasty. Damn, that's some fucked up tl;dr as I'm referring to the main text... Cheesy