Bitcoin Can Go Below $30K. Here Is Why I Continue To Buy Bitcoin and HODL No Matter What.

By ssaurel | In Bitcoin We Trust | 5 May 2022


I am writing this as the price of Bitcoin is $39K. The price of Bitcoin is clearly in a range from which it cannot break out either from above or below. With an ATH of $69K reached in November 2021, the price of Bitcoin is currently at -43% of its ATH.

For some, this is panic as the market sentiment is still in extreme fear. Some feel that much worse is ahead and that Bitcoin will go into a Bear Market very soon. Many of these Bearish people are predicting a Bitcoin under $30K soon.

As you know, this is not my sentiment. I remain Bullish based on various indicators such as the BTC reserves which have reached a 4-year low on the exchange platforms. In my opinion, more and more people are going into accumulation mode for what is in store for Bitcoin in the coming years.

Still, I could be wrong, and Bitcoin could see its price drop below $30K. After all, Bitcoin is a free market. Anything can happen in such a market where users are constantly free to find the equilibrium price. Let's imagine that the war in Ukraine leads to the third world war. You can be sure that the price of Bitcoin would suddenly drop below $30K due to the panic of all investors.

We cannot control these events as you know.

But do I refrain from buying Bitcoin despite this possibility? My answer is no. I continue to buy Bitcoin regularly using my DCA strategy which has always worked for me so far. I was already doing the same throughout 2018 for example.

So I bought Bitcoin at just about every price level during the extended Bear Market of 2018. I did the same throughout the Bull Market of 2021. What you need to understand here is that the only thing I care about here is the future that awaits Bitcoin. I am only focused on the long-term goals of Bitcoin. Under these conditions, Bitcoin may see its price fall further in the short term, but this will have no direct impact on me because I will remain a HODLer no matter what.

And I believe that the price of Bitcoin will be higher in 5 years, 10 years, 20 years, ...

So I don't see the point of taking risks by playing the trader who tries to sell his Bitcoin to try to buy it back at a lower price. At what point do I re-enter? Why should I sell an asset that I fundamentally believe in anyway?

It would make no sense, except to let my greed get the better of my sense of logical reasoning. But that's not what I want to do. I want to dominate the situation and remain calm. To do this, I continue to apply a DCA strategy no matter what. This strategy can be adapted of course. You can decide to increase your purchases of BTC after a significant drop in its price for example. This can be smart.

However, you should keep in mind that Bitcoin is still an accumulation game for years to come. If you can't handle the current situation with the risk of a price drop to lower levels, it's probably because you don't fully understand how Bitcoin works, but also because you lack confidence in the Bitcoin revolution.

From there, your best option is to continue to learn more about Bitcoin and the economy. Eventually, you will come to the only question I have:

Do I think central banks will stop printing fiat money out of thin air in infinite quantities in the future?

My answer is no, as the Fed has just increased the M1 Money Supply by +420% over the last 24 months. Under these conditions, patience is my best ally with Bitcoin. I advise you to also develop this essential quality that will allow you to take care of your money in the years to come.


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ssaurel
ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.


In Bitcoin We Trust
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