Quote from: Hallroom on Today at 06:08:05 AM

Quote from: Altcoiner007 on March 11, 2024, 12:18:06 PM

https://i.ibb.co/wy4kGW0/1710158278780.jpg

Many times I've missed the opportunity of buying Bitcoin dip because of media sentiments. In 2022, when Bitcoin was $17,168.57, which would have been a good time to build a larger holding, some claimed Bitcoin was on the road to irrelevance others said it was dead. I could understand and agree with them because the value of bitcoin had peaked at USD 69,000 in November 2021 before falling to USD 17,000 as at the mid-June 2022.

After that time, the value had fluctuated around USD 20,000. And the same media claimed it was an artificially induced last gasp before the road to irrelevance. It seemed true as the FTX bust had sent the bitcoin price to well below USD 16,000.

Later in 2023, Forbes headline crushed the confidence of many Bitcoin enthusiasts, saying if ETFs managed by asset managers are too successful, they will completely destroy bitcoin. Other sentiments like Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers and that the approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment.

Yet today, I saw the image above and it suddenly got the question into my head, Is Bitcoin still dead? We've all seen how Bitcoin has weathered through all the critics and FUD to breaking above USD 70,000 steadily since the beginning of 2024. There's all indication it's headed toward USD 100,000. What are you all thinking about these feet.

Should those who didn't buy all along dare to jump in or would you recommend going for ALTs as the rising of Bitcoin often drag along the altcoins. Let me hear your thoughts?

Bitcoin price changes all the time, about a year ago Bitcoin price was a small price from where buying a dip in Bitcoin would have resulted in 4 to 5 times more profit than today. Note that only long term is the most valuable, the more dips you buy and hold for longer the more you can reap the benefits. Of course, it is very likely that Bitcoin will hit $100,000 in 2024.

redoyrrr

Posts

Merits