Quote from: ginsan on September 28, 2023, 10:01:54 PM

Quote from: Out of mind on September 28, 2023, 11:15:01 AM

Bitcoin is the only coin to hold for a long time to earn from cryptocurrency. A person can earn good amount from Bitcoin if he invests for a long time. There were many tokens in the past that are now dead, and investors who invested in those tokens lost a lot of money. Most shitcoins pump for a short period of time, but later those coins turn into scams, once those coins die they have no value. That's why if you want to make a video, you must think about it. If we invest for the purpose of making a profit, we can never invest in any other coin except Bitcoin. Investing in Bitcoin alone is possible to make a profit, and will always incur losses and lose money.

Bitcoin is an asset that we should have for the future. Because Bitcoin has a limited supply and of course if Bitcoin has been completely mined. Then we will see big changes occur, either it will increase the price of Bitcoin due to soaring demand, or it will become increasingly difficult to get because holders will hold onto their Bitcoin and don't want to sell at a cheap price. So in this context we can take advantage of the opportunity to continue buying and holding Bitcoin while Bitcoin is still below its highest price.

In fact, if you look at what has happened so far, of course the Altcoin holders have experienced huge losses because coin prices have fallen by almost 99%, such as Luna and FTX Cheesy

. So forget altcoins and choose Bitcoin as the safest asset for us to invest in the long term. I even see that many of those who entered from 2015 or above are now making quite large profits from holding Bitcoin for a long period of time. So there's nothing wrong with following their steps by buying and holding in the long term.

There is a power within compounding and exponentials... so if the BTC price is going up through the years, and maybe not very clearly over a few years, but over a cycle or two, you are able to see a kind of stablizing and building upon itself in such a way that after a certain passage of time, it becomes quite difficult to push the BTC price below certain price points.

So for example in 2013, when I first got into bitcoin it was likely becomeing more and more difficult to go below $100, and then after the BTC price went up to $1,163 and then corrected back down into the $100s.. it started to become quite difficult for the price to even go below $200.. .. even though bitcoin naysayers were proclaiming that we would be seeing double digit bitcoin. .but it did not end up happening.. .and the same was true after 2017 when people were proclaiming that we would be seeing BTC prices in the $1,000-ish arena, and the lowest it got was $3,124.. and even had a lot of that time that it was mostly above $6k, and probably the same is becoming true in regards to $20k being much more difficult to breach.. but surely $10k is difficult to breach, and if you have been into bitcoin for a while, then you likely have been accumulating BTC for quite lower prices, and there were many opportunities to accumulate bitcoin for less than $10k before late 2020.. and even if there were periods above $10k, there were a hell of a lot of opportunties to accumulate bitcoin below $10k prior to late 2020.. so it seems quite likely that sub - $10k coins is gone forever... ..

and there is also likely going to be a time in which sub $30k coins are no longer a possibility.. even though we cannot really know how long it is going to take before we can start to feel a certain level of confidence that the BTC price will never go below $30k again.. just likely we can have a certain amount of increasing levels of confidence that BTC prices will never go below $10k, $1k, and/or $100... It is not guaranteed.. but fairly high levels of confidence begin to develop with the further distance that the BTC price gets from those prices and also that certain lower prices become harder and harder to achieve.. and it surely already could be the case that sub $20k will never be seen again, even though a lot of people seem to be thinking that sub-$20k has decent odds of happening... but we are already below the 200-week moving average for extended periods of time (which is currently at $27,903 and going up at nearly $14 per day), and it is just starting to seem unrealistic to be expecting BTC prices to even stay below the 200-week moving average for as much time as it has already been spending below the 200-week moving average in the last year and a half.