When Bitcoin Price Reached $65K, You Were Waiting for an Opportunity To Buy. The Opportunity Is Now.

By ssaurel | In Bitcoin We Trust | 23 Jun 2021

In October 2020, a little less than six months after its third Halving, the price of Bitcoin entered a bullish rally that brought its price from $10K to almost $65K by April 2021. For many weeks, everyone who had missed the Bitcoin train throughout 2020 kept saying the same thing:

"I'm waiting for an opportunity to get into the Bitcoin market."

Since January 2021, these people have been patiently waiting for this opportunity that could never have come.

The May 2021 crash gives you a unique opportunity to enter the Bitcoin market

Life is full of surprises, and that's the beauty of it. A major opportunity has arrived since the end of May 2021. Various events have caused extreme fear in the Bitcoin market, which has caused the price of Bitcoin to plummet.

At the time of writing, the price of Bitcoin is back around $34K after hitting a low of $28.8K late on June 22, 2021. Nevertheless, the situation is likely to remain extremely volatile in the days to come. A retest of the $30K support is expected.

Some are taking the opportunity to announce that Bitcoin has entered a Bear Market.

This only reinforces the extreme fear that prevails in the market today. So, all those waiting for an opportunity to buy Bitcoin when its price reached an ATH (All-Time High) are still waiting today.

Fear prevents them from taking action.

Fear prevents all those who have been waiting for this opportunity for many months from taking action

Those people who have a short-term view of things are afraid to buy Bitcoin and its price will start to fall again. They will miss out on the great opportunity they have been waiting for since the beginning of 2021. Because make no mistake, Bitcoin is still in a Bull Market.

Instead of wasting time being afraid, you need to focus on the fundamentals of Bitcoin. Those fundamentals keep getting stronger. One country, El Salvador, just adopted Bitcoin as an official currency. China just banned Bitcoin mining, which will prove to be great news for Bitcoin in a few years.

While it is undeniable that Bitcoin's Hash Rate is falling, it will only be temporary as all Bitcoin mining companies are moving their equipment to the West. We are thus witnessing the great exodus of Bitcoin mining.

The positive effects will be felt within a few weeks or from September 2021.

Bitcoin could see its price move sideways all summer

In the meantime, the price of Bitcoin could very well continue to move sideways in a range between $30K and $40K. This would be reminiscent of what happened throughout the summer of 2020 when the price of Bitcoin stagnated around $10K, and some people seemed to start considering Bitcoin a boring asset.

A few months later, the price of Bitcoin began a phenomenal bullish rally that left many observers astonished. For Bitcoiners, nothing was surprising about it. It was the logical consequence of the Bitcoin Halving that took place in May 2020. Such a supply shock in Bitcoin could not be priced in advance.

Therefore, the current period is a good time to accumulate more BTC for those who have a long-term vision for Bitcoin.

This is the case for Michael J. Saylor, who has been buying Bitcoin again with MicroStrategy. In keeping with his no matter what DCA buying strategy, MicroStrategy now holds over 105K BTC. Michael J. Saylor will be greatly rewarded for his smart choice in the future.

Long-term holders take advantage of the opportunity to accumulate more and more BTC while the others miss the train again

The on-chain data also clearly shows that long-term holders are taking advantage of this opportunity to accumulate more BTC:

Image Bitcoin: Total Supply Held by Long-Term Holders - Source: Glassnode

On the other hand, the short-term Holders are selling massively guided by panic:Image

Bitcoin: Total Supply Held by Short-Term Holders - Source: Glassnode

It is funny to note that the situation was the opposite throughout the first months of the year 2021. Long-term Holders know when to buy, while short-term Holders are unable to seize the great opportunities the market offers them.

The reason is simple: these short-term Holders lack confidence in the Bitcoin revolution. These investors don't know how to be patient and focus on the real signal, which is the Bitcoin revolution. This prevents them from taking full advantage of the Bitcoin revolution.

Final Thoughts

That being said, you don't have to seize the current opportunity if you don’t want to. You can still wait for the price of Bitcoin to fall. It may happen. No one can deny that. But if it doesn't, you will once again miss out on a unique opportunity that could change your future life for the better.

It's up to you to learn to be forward-thinking if you really want to take advantage of the Bitcoin revolution.

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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.

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