The past week has been red for Hodlrs and Bulls. If you see the trend and expected BTC to fall then you're be happy you did, but don't forget to accumulate at these lower prices. When BTC fell to 33k this summer, who bought? Who panic sold after 65k but didn't bother to accumulate more BTC?
https://bitcointicker.co/stamp/btc/usd/7days/
Watch carefully because as fast as it crashes it can also skyrocket.
There are a whole lot of buyers who now want BTC at $10,250 (despite it being available at that price not so long ago and being fearful) but it doesn't match up with just half as many offers at 67k. This is the classic scenario, everyone wants it- but cheap. Those who have it, want a fair return on their own purchase. So if BTC falls, expect supply to be eaten up quickly. The next time BTC takes off there will be a scramble to get out of Alts and back into Bitcoin. That might not be for a while.
I am already starting to see more articles about how few Bitcoin there are left to mine. The last block halving was on May 11 2020, and the next halving will be around May 6th 2024, just 2 years.
https://www.coingecko.com/en/coins/bitcoin
There are just 2,080,906 BTC left to ever be mined, and 768,406 BTC will be mined from now until the next halving, about 853 days. Although I am bullish long term on BTC I am observing a downward trend and suspect it is a good time to learn and study carefully, accumulating during these dips.
That being said there are many arguing that Bitcoin is still underbought, and the Mayer Multiple seems to suggest this. If you are not familiar the rule by Trace Mayer is that "the best long-term result were achieved by accumulating Bitcoin whenever the Multiple was below 2.4" and currently that figure sits around 0.96 based on dividing the price of Bitcoin by the 200 day moving average.
I have some SWAP.BTC in my Hive-Engine wallet, 0.0004092 worth $18.86 it says. If Bitcoin goes up then I can swap for more Hive. If it goes down I can accumulate some more. I am not really worried about it because I am not a maximalist anymore. I think it is important to hold a basket of coins.
1 BTC = 2,008 Silver Oz | 1 Silver Oz = 0.00049796 BTC
There are other coins that are important too, but the question is always why. If you want coins for the apocalypse, that people will accept as currency when paper and plastic go bust, then you need Silver. Gold is shiny but easy to lose, you can only spend it in one transaction, and it's just going to sit in a vault. Silver can be traded for smaller transactions or for a basket of smaller goods.
Silver & Gold are money, everything else is credit. Bitcoin is digital gold, a better form of what gold does for the digital metaverse. Think of most altcoins like BTC ious. Other protocols do have value but only if they match or exceed features used by Bitcoin, and are compatible with it. The creation of liqudity pools wrap a life jacket of security to holding any random token, because you know you can swap it for something valuable like Bitcoin. Liquidity providers, the public, are rewarded for assuming risk and for their participation. The opportunity here is for anyone to provide liquidity.
Once we wondered what the sub-satoshi credit system would be, would we simply keep dividing satoshis into smaller and smaller units? Now with the advent of "meme coins" we see these types of contracts finding their niche in mainstream adoption. While BTC has only 21m coins, SHIBA has 999,991,956,083,704 tokens held by now 1,115,128 wallets. To compare, about 172 million Bitcoin wallets make regular transactions. (288m wallets have never had a balance at all!)
Whether the price of Bitcoin goes sideways, up or down in the short term, there will be ongoing innovation in this brand new metaverse of cryptographically stored value. 'Bitcoin' related technology is delivering on the promises of the old web, while decentralizing finance today. Crypto is an opportunity for people to raise their own standard of living around the world, and while the changes are taking place very quickly, we must be patient and take our time.
https://bitcointicker.co/stamp/btc/usd/3hr/
