You entered the Bitcoin world attracted by the lure of money. I don't blame you, because that's what led a majority of people to Bitcoin in the first place. By following this path, you entered the Bitcoin world in the midst of a bullish rally like the one we have been experiencing since October 2020.
Others had already experienced this in late 2017.
In a Bull Market, everything is easy. The price of Bitcoin looks like it will only go up. Under these conditions, you are already starting to think about the price that Bitcoin must reach in one year, two years, and then ten years.
Those who enter a Bull Market think that everything will be easy with Bitcoin
For you, everything will be practically green. The color red will appear from time to time, signifying a drop in Bitcoin's price over the course of a day, but you won't even pay attention to it. In fact, the very next day, green will be back. So it's easy to have confidence in Bitcoin when its price is only going up.
The problem is that it puts you in a total illusion, which I have tried to capture in this illustration:
Illustration by Sylvain Saurel
You feel that the price of Bitcoin can only go up. It even becomes your plan.
And then, when a Bitcoin price crash hits the market, you are confronted with the reality that you had purposely left out: Bitcoin is a free market which means that its price volatility is a feature, not a bug.
The long-term goals of Bitcoin remain the same, but to take advantage of them you will have to earn them
You often hear that the next big goal for Bitcoin will be to reach $100K, before aiming for gold's market cap of around $11T. This is indeed what is in store for Bitcoin over the next decade. But it will not happen linearly.
The price of Bitcoin will rise sharply, experience corrections and crashes, before rising again. And so on. Green will give way to red, testing the nerves of those who don't believe enough in the Bitcoin revolution. For those who understand that Bitcoin is going to build a better world for many in the future, things will happen naturally.
Each correction will serve to accumulate more BTC.
For others, it will be an opportunity to see that nothing is easy with Bitcoin. That's why what Bitcoin offers you is so valuable. Bitcoin gives you back the power over your money, but you'll have to fight through its revolution in the years to come.
You'll have to become a Bitcoin HODLer by resisting the FUD messages, the rumors, the boredom when Bitcoin's price stagnates at times, or the temptation to sell your Bitcoin to take profits in U.S. dollars or to buy Altcoins.
If you can stick with your Bitcoin journey, you will be among the most rewarded in the future.
What Bitcoin gives you is earned by supporting its revolution day after day no matter what
It's as simple as that. Bitcoin is the hope of a better world for more people, but one that we must fight for every day. Block by block, the Bitcoin revolution must be supported by as many people as possible. It starts with the developers who are evolving the Bitcoin source code and are the real unsung heroes of this revolution.
It continues with the evangelists who are trying to introduce others to Bitcoin. Being able to help others become Bitcoiners is the greatest reward in my eyes.
Everything that Bitcoin offers you is essential, and that is why you need to be prepared for these short-term Bitcoin price fluctuations. These variations should not make you lose sight of the bigger picture. In the long term, the price of Bitcoin is rising, and it will continue to rise.
To take advantage of this, you'll need to be able to take a long-term view and enter into a real marathon. Only then will you be among those who will benefit the most from the Bitcoin revolution.
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