Quote from: worldofcoins on September 29, 2022, 12:21:22 PM

Quote from: EarnOnVictor on July 31, 2022, 07:04:05 AM

Bitcoin has gained so much popularity and recognition in the past few years that it rose from nominal prices to almost $69000 in 2020. It however gained hundreds of billions of dollars in capitalization over the years. The situation has changed with both appraisals/approvals and backlashes on the cryptos by some countries, especially government officials.

Inflation is another problem, and they have successfully caused Bitcoin to remain at lower levels compared to its all-time peak of almost $69000. Its market capitalization today is a little above $454 billion, which is still a good value. However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

As for me, my investment has just begun. I have learnt from my past mistake.

If it reaches 1000$ again, then I'd be pretty happy because I'll be able to buy more, in fact, that is what I'll do. I'll buy as many BTC as possible at the time, depending on the time savings I have.

atm bitcoin market cap is around 350 billion and total market cap is below 1trillion that's more than half compared to when BTC price was somewhere between 50-60k

That's right! Buying more bitcoin is a nice good move in case the market drops to as low as $1000 again and buying it at a cheaper price is really an advantage that any investor doesn't want to slide. But how about if you have already accumulated plenty of bitcoins in the past? How would you react? That's the problem right there, chances are we might get problematic because the options are only buying more or hold. We can't possibly sell that asset in a much lower price than the price when we bought it because that's already a loss.