Before this works. But this time, we can do the math.
So if someone buys at $94k per Bitcoin and expects to double it, then that investor needs to wait for it to become $188k for his investment to double.
Is it bad? no. That's better than the other assets that we know and even in the stock market. For just a few years, it might double from now on or if this bull run gets to another peak before this year ends, then that's better.
Still, BTC is the best performing asset that we've ever seen in our lifetime.
I am not sure what the purpose would be for any newbie to be concerned about whether his bitcoin is going to double in the short term or not, especially since bitcoin should be considered as a long term investment, and anyone getting started buying bitcoin in the $97k prices is going to likely take a long time to build his bitcoin investment - perhaps 4-10 years or longer - unless you are suggesting that newbies are going to be ready willing and/or able to front load invest into bitcoin and then discontinue investing.
There can be quite a bit of advantage for newbies if the BTC price could stay down while they are establishing their bitcoin position, and surely there are not too many investors who are ready, willing and/or able to front load their investment into bitcoin - yet surely if you have some kind of an example of that, then maybe you should provide your example.
And also, you, on a personal level, boyptc, you have been registered on the forum for more than 9 years, so it could be the case that you have largely already established your bitcoin position, and you are no longer regularly, persistently, consistently, ongoingly and perhaps even aggressively accumulating bitcoin.
So , surely if some guys have already been able to establish a decent bitcoin position over a cycle or two, then they might not need to worry, yet anyone who is a newbie to bitcoin and perhaps even within his first whole bitcoin cycle, he is going to have to focus mostly on accumulating bitcoin through buying.. and what other choice does he have? Do think that he should wait for price dips that might not come? Or should he start (or continue) buying bitcoin at whatever price while he is still building up his bitcoin holdings.
What do you think the low coiner or no coiner should do?
With most of the friends that I have talked to, this is the kind of narrative and explanation that they always throw at me. They have to wait for bitcoin to double its price so that they can also have double their money.
I've said they're right but I get it when they're trying to win an argument over this thing because they're up for the altcoins.
I've explained to them that it's real with altcoins but they're more volatile than Bitcoin and they might not see that altcoin they are so optimistic with in the next bull run.
Personally, I've told them that investing in Bitcoin requires patience and treat it as their savings. Instead of saving in the bank and making the bank win, they should be the bank themselves and take that win. The limited of supply of Bitcoin wasn't hard to explain to them but I hope that they have realized that or even the newbies nowadays.
I agree that Bitcoin is a long term investment despite that I have saved some, I am continuing it and putting money where my mouth is trying to prove it because it works.