The last two years have been a difficult time to be in the Bitcoin market. After seeing its price soar all the way up to $69k, it would eventually plummet back down to $15k, before rising again above $30k. It was a time of hopelessness in the market, and there were real concerns about whether Bitcoin would ever be able to recover. Had the death blow to BTC finally been dealt?
However, everything changed after it was announced that BlackRock had applied for a spot Bitcoin ETF. When it comes to financial companies, there is nobody bigger. All of a sudden excitement has returned to the market, and hope for what the future may hold. Wall Street adoption is here, and now all of those outlandish price predictions that we have been dreaming about could be a real possibility.
All of this has brought FOMO back into the market. Investors who have been buying Bitcoin for years are realizing that our ability to front-run the largest wall street corporations is soon coming to an end. And that we need to buy as much as we possibly can before that happens.
With that said, when it comes to buying Bitcoin and other cryptocurrencies there is always one human weakness that gets in our way.
EGO.
We are all in this market to make as much money as we possibly can. But when it comes to buying Bitcoin, there is a certain type of Bragging rights about timing the market perfectly or buying at its lowest points. Last year when Bitcoin dropped to $15k, a large number of people continued waiting on the sidelines for the price to reach $12k, or even go below $10k. Most of these people stood frozen and never ended up buying. Looking back on it now, the difference between buying BTC at $15k, $12k, or $10k seems unimportant.
As the price of Bitcoin continues to rise up to match the previous all-time high and ever surpass it. That buying price will seem even more minuscule.
Fast-forwarding back to today with the huge news of BlackRock applying for a spot Bitcoin ETF. It’s important that you understand BlackRock is a powerful play that doesn’t do things without already knowing the results. They have a 575–1 ETF approval history. Their ETF will be approved, and so will the ETFs of the countless other companies that followed suit. Then add the fact that the next Bitcoin halving is just around the corner. This all adds up to a perfect recipe for Bitcoin to go parabolic.
During this next cycle when Bitcoin reaches $100k, $200k, and even far above it. The difference between buying at $30k, $40k, or even $50k will feel minimal. This is why I continue buying Bitcoin today, tomorrow, next week, and next month. I have full conviction in where I believe the price will be heading, and the current price isn’t important.
There isn’t much Bitcoin left, and there will be even less once Wall Street has finished accumulating. It’s not too late to front-run the largest corporations in the world, but time is quickly running out.
How about you? Do you try to time the perfect Bitcoin buying price?
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