Have you ever woke up in the middle of the night; with the worry that you may not have enough bitcoin!?
I have. Multiple times.
If all of the predictions for bitcoin do come true by many of the "bitcoin experts" and macro investors; then there will be a lot more people that occurrence will happen to.
The world is changing, and this change is happening much faster than most of us could have imagined. You can probably attribute this to the chaos that the pandemic caused around the world and how the government reacted to it. By printing an extreme amount of money. Just before last year when people were predicting bitcoin prices for the next bull run. They were almost though as crazy if they said a price that was over $100,000.
But now with everything that has happened; and perhaps more importantly the world is finally beginning to understand what makes bitcoin so great. Now if someone makes a prediction for over $100,000, they are considered to be ultra conservative. That it's a forgone conclusion that the price will certainly reach that target and go much further.
But will it? No one really knows, but I do feel very confident that we will reach that infamous PlanB price prediction of $288,000. And if it doesn't this bull cycle; it will definitely achieve it during the next one.
I truly wish I could time travel 10 years into the future and see where the price of bitcoin has gone to. How the world has embraced it. Has it become the world reserve currency? Of course that would make things far too easy. Those who were early and had conviction to HODL their bitcoin will be the ones who will be rewarded. If you began investing into bitcoin before this bull run; you were very early. Buying bitcoin from prices last year ranging from $4,000 to $10,000 sounds like a dream that I wish I could take advantage of again.
But you may find yourself looking at the current bitcoin price of over $50,000 and thanking that you missed your chance to buy bitcoin. That you are late to the party. As hard as it is to believe; you're still early.
You must stick to the main plan for success with bitcoin. That plan is and always has been to never stop buying bitcoin. Always dollar-cost-average purchase no matter what the price is. This will allow you to catch a good average of the price. The swings up and down.
While this picture is a little out of date now, I do think you can understand the intent behind it.
Once bitcoin had reached a new all-time high price of over $20,000; many people have been waiting to buy. They felt the price was too expensive and they were waiting for the inevitable bubble to burst, sending the price far below $20K. They have been waiting and waiting; and the price has soared over $50,000. Yes there have been price dips along the way, but nothing incredibly major, and nothing that ever came close to $20K. Those cheaper prices may never come again. Institutions have entered the bitcoin market; the market has changed. In a few weeks $50K might actually sound cheap after the price has gone up to $75K.
Before this bull-market began, I vowed to never take my foot off the gas pedal; to never stop buying bitcoin. I had only one goal in mind; to accumulate as much bitcoin as possible. I would much rather buy bitcoin and see the price drop enormously, rather than continue waiting to. buy bitcoin and seeing the price soaring to unbelievable heights. Knowing that I missed my chanced. That regret would haunt me.
With bitcoin, the dollar-cost-averagers and HODLer's have consistently been the winners. Your life will be must less stressful if you're not concerned about finding the perfect entry price. Just DCA and you will be so thankful that you did.
But how about you?! Once the price of BTC rose did you stop buying!? Or have you never stopped!? What is your strategy?
As always, thanks for reading!