techfeudalist on Nostr: I realized I misunderstood your question. In 2021, bitcoin probably would have scaled ...
I realized I misunderstood your question. In 2021, bitcoin probably would have scaled greater heights if FTX had actually purchased the bitcoin, but your question was about 2022.
The reality is that bitcoin has a four year cycle because of “the halving”. 1.5 years of a bull market and 2.5 of a bear market. In the bull market, people go crazy trying to get rich and they borrow a lot of money to buy bitcoin.
Inevitably, these gamblers get their loans liquidated and this causes mass selling all at once, driving down the price. This happens every cycle. The long term bitcoiners don’t panic when this happens and buy more on the way down, if they can.
You can see these drops in history here. This is bitcoin’s price since 2009 shown on a log scale.
Look at the drops… 2012, 2014, 2018, 2021. The good news? The bull cycle is just starting. Don’t get greedy and don’t try to time the market. Just hold for the long-term (your retirement).
The reality is that bitcoin has a four year cycle because of “the halving”. 1.5 years of a bull market and 2.5 of a bear market. In the bull market, people go crazy trying to get rich and they borrow a lot of money to buy bitcoin.
Inevitably, these gamblers get their loans liquidated and this causes mass selling all at once, driving down the price. This happens every cycle. The long term bitcoiners don’t panic when this happens and buy more on the way down, if they can.
You can see these drops in history here. This is bitcoin’s price since 2009 shown on a log scale.
Look at the drops… 2012, 2014, 2018, 2021. The good news? The bull cycle is just starting. Don’t get greedy and don’t try to time the market. Just hold for the long-term (your retirement).