Beware of So-Called Bitcoiners Who Claim Victory With the Return of Bitcoin Above $30K.

By ssaurel | In Bitcoin We Trust | 27 Oct 2023

Don't be like some so-called Bitcoiners who are claiming victory after seeing Bitcoin break through $35K again in recent days.

In recent days, the Bitcoin market has gone from fear to greed.

The reason? The fact that SEC approval of a Bitcoin Spot ETF is fast approaching. And once the first Bitcoin Spot ETF is approved, whether it's BlackRock's or Fidelity's, all the others will soon be too.

This will lead to a massive influx of fresh money into the Bitcoin market.

Investors are convinced that this massive influx of cash, coupled with Bitcoin's fourth Halving in 2024, will propel Bitcoin to a new ATH in the coming months.

As a result, many so-called Bitcoiners are congratulating themselves on X or elsewhere, saying “Bravo to all the warriors who have stood their ground despite the extremely difficult Bear Market we've been experiencing for months.

Some of them are even uttering random phrases like “We'll never see the price of Bitcoin fall below $30K again.

Why are on-chain analysts wrong quite often? : r/Bitcoin   It seems that some people never learn from the mistakes of the past, even if that past is very recent!

The price of Bitcoin is currently hovering around $34K, but it's time to come back down to earth: there's nothing to say that the price of Bitcoin won't correct sharply in the next few days and return below $30K.

This is the most likely scenario, as you know that the price of Bitcoin never advances in a straight line towards a new ATH. You have major rises interspersed with equally major corrections.

So there's no need to congratulate everyone as these Bitcoin influencers do.

If you've figured out the why of Bitcoin, you've already got your reward. You don't need an influencer claiming to be a Bitcoiner to congratulate you, the hardest part is in front of you...

The hard part is far from over for the Bitcoin revolution. Many challenges await the Bitcoin revolution in the months and years to come, among which I believe the most important is that of not having the deeper meaning of the Bitcoin revolution stolen by global financial giants like BlackRock or Fidelity.

With the arrival of these global financial giants in the Bitcoin world, the hardest part will begin.

Let's stop focusing solely on the price of Bitcoin, and understand that the real battle will begin to make the Bitcoin revolution a real success in the future, beyond just raising the price of the underlying asset.

To help you understand the why of Bitcoin, I'm once again offering a 50% discount on my book The Truth About Bitcoin until the end of Uptober 2023. Simply use the code ZWLFW11 when purchasing “The Truth About Bitcoin”:

-50% off The Truth About Bitcoin

How do you rate this article?


ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.

In Bitcoin We Trust
In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.