From my perspective, newbies seem to become too overly obsessed with short term profits and not considering how to stack a sufficient quantity of BTC for the long term - which surely may be one of the danger points in having a thread that focuses on the road to $100k.. .
Most times newbies forget about the big picture and that in short term Bitcoin investment, you risk more losses, unlike having a long term investment accumulating Bitcoin. The road to $100k is most relevant to those accumulating and holding Bitcoin rather than short term traders.
It seems to me that the road to $100k is also short term, unless you happen to already have had been in BTC for a couple of cycles or more, then you have more freedom to do what you like, so my thinking is that there is no need to have any specific price target in the first 4 years or even longer, unless you happened to have been able to front load your investment and overaccumulate, but for the most part, long term investment is more than merely having a price target such as $100k or some other price target that might be higher up.
Long term tends to involve spending quite a bit of time in the market.. which likely ends up leading to more options. even if there might be times in which the price goes up or down along the way.. and there may even be some need to hold through a whole up and down cycle and not be trying to play price waves within cycles...
Sure, if you got to a point of overaccumulation you have more flexibility.. and there are not too many scenarios that I would consider overaccumulation to have had taken place in less than a 4 year cycle.
Surely in accordance with your forum registration of mid-2022, there might have had been some potential that you had been able to frontload your BTC investment and/or had been able to overaccumulate BTC in the last 2-ish years, but I would have to know more before I would be able to presume you to had gotten yourself into such an overaccummulation position, and even if you are in a position of overaccumulation, that still would not justify selling all of your bitcoin, even though you would have more options than someone who might have gotten into bitcoin under other terms.
Overall, we should consider that BTC's price is going up. It is just a matter of having a perspective that is long enough so that the shorter term volatility does not distract from an overall understanding of the likely price direction.
This is what I'm driving at. You articulated it better than I did. Generally, The slope is an upward climb, and there maybe slight jaggeredness on the way up there, that could be problematic for short term investors. Setting an investment range that stretches into 'long term span' sets you in motion for bigger profits.
Yes. BIGGER profits and more options.
$100k might not really that too far but this wont really be a smooth sail ride. It would really be taking up some time before we would really be able to break it out. Now that we are near on Bitcoin halving
then expect that we would really be able to see some higher highs but of course no one really knows on when.
How do you know if there is going to be resistance at $100k or not?