Hodl and Buy the Dip

@darkflame 68

over 1 year ago

Canada

Take a look at the 1 hour chart, and its a dip! On the way back up for now.

https://bitcointicker.co/stamp/btc/usd/1hr/

If you zoom out youll see, it's been dipping for a while!

https://bitcointicker.co/stamp/btc/usd/3Mth/

Keep zooming out and you'll see, we are in a big dip!

https://bitcointicker.co/stamp/btc/usd/6Mth/

These prices are outrageous! Is it because they are too high? Or too low?

What is a Bitcoin even worth?

The market is still trying to figure that out. Believe in it or not, Bitcoin is worth more than Walmart and only slightly less than all of Palladium and Exxon. It was #15 the other day but is back to #17.

At current prices a single block reward of 6.25 BTC is worth 120,783 USD at the current price of 19325.4 USD. When the reward drops at the next halving in 2024 to 3.125 more adopters will realize the few remaining BTC to be mined, and the price rises again to adjust.

https://www.blockchain.com/explorer/assets/btc

When I look at the Bitcoin price chart it looks like a heartbeat monitor, and we see satoshis like the blood flowing through the entire body, it pulses as the heart muscles push it through the valves.

I wonder if Bitcoin will fall below 17500 this next week, or if we will see strong support at these levels. I want to buy more but not until it actually bottoms this cycle. There will be lots of upside once BTC finishes consolidating. The Meyer multiple is 0.66, and the average is 1.38. "The Mayer Multiple has historically been higher than today's value 92% of the time." May be a good time to buy.

Keep an eye on the charts and cost-average when you feel comfortable buying. This cycle I am not betting against BTC, if you buy $20 a week for a year then you'll have bought about $1000 worth of Bitcoin, maybe the price will go up, maybe it will go down while you are accumulating. But if you HODL then it doesn't matter, just keep those keys safe and don't trade it for anything.