Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Orpichukwu
on 13/10/2023, 21:06:03 UTC
Alright, man. It's quite simple. With $2000 in your bag, what you can purchase with that amount now will be higher than what you can purchase with it in the next five to seven years. Since the percentage of inflation gradually increases almost every year, it's more likely for you to increase your annual earning capacity. This way, you can slowly accumulate some amount of Bitcoin within 5 to 7 years, even if the price reaches $250k, using the Dollar-Cost Averaging approach.

I remember when people regretted not buying Bitcoin when the price was lower in 2014. But regardless, a lot of people are still buying now and holding, and even average individuals are investing in Bitcoin.

I like your analogy, and even without bitcoin increasing in volume over the coming years, which we all know that it will, the purchasing power of that $2,000 that one has at hand is definitely going to reduce; it's not what $2,000 was able to purchase in the past 5 years that it can still purchase today. Inflation is gradually increasing the cost of living, and the value of local currency can never be the same, so if we don't want to use the price of bitcoin as an example in terms of the amount to be purchased, one should also consider purchasing power and look at bitcoin as a means of taking a reasoning-saving step, as it will help you escape inflation a little bit.
 
And when we want to talk about the price difference, you might be surprised at what the value of bitcoin, which $2,000 can give you today, will turn out to be in the next $7,000; it's absolutely going to make history, and anyone who takes the bold step of purchasing it now will never regret it. That's if the person can hold it down for long and doesn't sell out of panic.