If you trust Bitcoin, now is the perfect time to accumulate more BTC. And maybe you've heard this already.
Bitcoin is the only free market in the world. The only market in which the user can freely set a price balance at any time. This means that volatility is a feature of Bitcoin, not an error.
People who can't control their emotions properly will not be able to take full advantage of the Bitcoin revolution.
Just a week ago, on April 16, 4, the price of Bitcoin was mooning. The excitement surrounding the Coinbase IPO lot led Bitcoin to a new historical record of almost $ 65. Everyone thought that after a period of necessary consolidation, Bitcoin was ready to grow again, up to 70k dollars.
Power outages in China have caused the price of Bitcoin to fall in a few hours. And then, on April 18, 4, a completely unexpected event happened: the power outage in Xinjiang, China. Much of the electricity used by Chinese Bitcoin miners come from this area, which has caused a sudden and intense decline in the Bitcoin hash rate.
Although the exact correlation between the hash rate and the price of Bitcoin has not yet been proven, it is clear that this but played a key role in lowering the price of Bitcoin by more than so much in just a few hours:
WELL....WELL...WELL...And what do we have here?!
ššš
Following the power outages in Xinjiang, there are rumors from the United States that regulators are about to sue financial institutions for facilitating money laundering through the use of cryptocurrencies.
The announcement of the ban on Bitcoin and cryptocurrencies in Turkey also affected the price of Bitcoin over the weekend. It is not yet certain how Turkish citizens will react to this attempt to ban Bitcoin.
In general, the attempt to ban only reinforces the attraction of Bitcoin to locals as we have seen in Morocco for several years.
INFLUENCE
Bitcoin's price has fallen below $ 50,000 due to new rumors in the United States.
It then stabilized throughout the week in the $ 55 area.
And then, on April 22, rumors came from the United States that Janet Yellen, the secretary of the US Treasury, might want to tax Bitcoin and crypto in general with up to 80% šæ. These kinds of rumors seem to suggest that we are in the middle of a FUD period.
The price of Bitcoin has dropped below $ 48 for a while. And this is what made me think that global movements are happening and impacting BTC's value.
Bitcoin is still growing by + 550% in one year
All Fuds are created to let the market sink into anxiety, even panic. But in these situations, you need to take a step back and see the big picture. That's what I do regularly and what I recommend. If you do this, you will see that the price of Bitcoin is still + 550% higher than just a year ago:
A one-week correction of -25% may seem shocking to new entrants, but it is not uncommon if you have been in this market long enough.
Just 2 months ago, the $ 50k BTC price caused a stir on the market
About two months ago, Bitcoin broke $ 50k for the first time. Everyone was ecstatic. The whole market was filled with enthusiasm. And now, when the price of Bitcoin is about $ 50k, people seem to be scared.
However, the fundamental values of Bitcoin remain the same. If you trusted the future of Bitcoin on February 2, you should be so confident today, April 25, 2021. These are just fluctuations.
True Bitcoin hodlers will continue to accumulate even more BTC during this correction. The big question is whether you can do that.
As Bitcoin surpassed $ 60k, I heard many people complaining that they missed the train of the Bitcoin revolution. They say that those who were able to buy Bitcoin for less than $ 10 are the lucky ones. In fact, there is no such thing as luck, it is a matter of faith and understanding.
Bitcoin fundamentals remain unchanged, which means it is the perfect time to accumulate more BTC
The only important thing is whether or not you believe in the Bitcoin revolution. If you wanted to buy Bitcoin over 60k USD, because you thought its price could reach 100k USD by the end of 2021, you can buy Bitcoin today for 48 USD and this is an even better opportunity.
However, you do not dare to buy Bitcoin yet because you tell yourself that Bitcoin could fall even deeper. This is also possible, but you can never foresee it. My feeling is that the current growing season is not over yet. The price of Bitcoin will return strongly in the coming weeks.
To successfully implement a BTC accumulation strategy, you need to consider the following 3 tips:
- Ignore the bulls and bears of the market
- Focus on the core values of Bitcoin
- Have a long-term vision so that you can accumulate more and more BTC with firm conviction.
In the end:
Markets give us opportunities and we must seize them. I can take the opportunity because I trust this game. Now ask yourself if you want to get on the revolutionary Bitcoin train or if you want to wait for a perfectly hypothetical price that will never reach.
I intend to keep track of the latest moves in the next month to make a clear idea of the crypto changes that are taking place. I will come by daily, I hope, to inform you on these aspects.
š I have to admit that my portfolio is not that diversified and I mostly care about our Leo, Cub, Hive, HBD, and second-layer tokens. But owning some other cryptos is making me want to have a global crypto understanding, as well. This is why I read, research and I am always glad to read your articles to find out more, as well.
