1BTC Project - A Chart Reminder of How History Can Rhyme

By 2MFTProductions | 1BTC | 23 Mar 2023

If you have been following along with my journey you know my philosophy. Slow, steady, and cheap. You do not need to over extend yourself, you do not need to lever up. Cryptocurrencies can be as volatile and risk on as you can get so picking the correct point to jump in is hard. Start small and keep things affordable. This blog outlines ways to accumulate a crypto position at a low to no cost.

That being said, I do think big things are coming. We are waiting in the cold for a bus. We have enough change for a fair. Hopefully we have coats that are warm enough. The bus is coming, we just don't know when.

Here is a chart from Bloomberg that shows a potential scenario that may be on the horizon. If you spend enough time cruising crypto twitter you will see a ton of charts and chart patterns. Technical analysis is far from fool proof but I saw this chart and it emphasized the importance of continually adding and growing your position. If the spot price of were to increase drastically it becomes harder to accumulate. We probably agree that the spot price is low, so take advantage of it while you can.

No one has a crystal ball and this asset class can turn on a dime. But if history rhymes then it may be getting harder to accumulate bitcoin quite soon. This is not a recommendation to max the credit cards and get in today, but if you are making monthly contributions it could be a good time to increase the amount by 5-10%. Start using crypto reward platforms like COIN and Cointiply. Maybe even think of rolling altcoin bags into Bitcoin, there is no shame in selling losers to buy winners.

The ironic thing is people get excited for huge moves up, but that only matters if you are a seller. I am still buying and accumulating so an 80% move up just makes my path to 1 BTC 80% longer.