Hello,
Today I would like to share with you about my thoughts of bitcoin. Whole red situation on the market makes people mad and forces people to sell their crypto assets in a minutes to reduce their loss. It is the most stupid think which new traders do with their money.
Since the beginning bitcoin had hundrets of corrections and people made it death for 251 since 2009! look
Main rule in cryptocurrency world!
Many people think that buying their first crypto in ICO phase make them a millionaires within 2 weeks. It is not a game to play in short term (of course it is possible but not for newbies). It is because new traders buy their crypto only if they see a mountain peak on chart. It works only if we buy in a loss and sel in growth. As we can since the very first bitcoin showed on the market it was so worthless. Now it costs about 7500 $. But main idea is that every single trader who have bught a bitcoin or a parto of it - earned a huge profit. I mean that we need to look on crypto from different perspective like a long therm investment - it works in most cases (cryptos) if of course it is not a scam.
Why History is so important?
If we see the bitcoin price since the year 2009 what can we see that :
- Price of it from 2009 up to 2011 was 0$ or close to this level, so the first growth started in 2011 and up to 2012 there was a big correction.
- Price of bitcoin in 2012 -2013 was raised in april 2012 up to 230 $ and then rest of the year was another correction.
- On the 3 rd of December 2013 price was at 1147 $ and guess what happend next - up to the Auguts 2015 there was less than 200 $/bitcoin.
- Price since 2016 was succesfully raising up to the December 2017 when bitcoin reached price of 20 000 $. source
Why we need to look back for these charts above?
It shows us that many people who remained calm after loss on market could earn thousands of dolars if they waited up to the next year. It is a great lesson of patience which is needed in trading. Another think I would like to say that there is too much unnecessary information like that bitcoin is a bubble and it will be useless in few months... It is still alive after 251 # of death. So it will be more powerful after every correction on the market.
Why is that so?
It is simple:
- bitcoin has at least 50 % of marketcap
- its supply is limited up to 21 000 000 coins in which 3 000 000 is frozen
- its demant is rising because for now about 0,5- 1 % of people are investing in crypto, in next few yeart it can be 4-5 % so it means that the price will be higher
- mining cost are rising so it will pump up the bitcoin price
Stay calm, hold your bitcoin and buy on low price!
your thoughts are welcome!
Comment, follow and resteem!
grreenn