Everyone Wants Cheap Bitcoin Until Bitcoin Actually Becomes Cheap

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This is always like a cycle, we see this happen every year, when bitcoin was $100 people wished they bought at $1. Remember that video of a man who was begging people to buy bitcoin at $1, well, newsflash, bitcoin is worth over $20k now and it’s all time is $69k. Also, remember when bitcoin got to $19k in 2017 and people were wishing they bought bitcoin at $1k or $3k, guess what again? The value of bitcoin dropped from $19k to $3k and those people that wished they bought bitcoin at $1k or $3k still didn’t buy.

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In crypto, fear is always at the peak during the bear season and greed is also at the peak in Bull season. That is opposite of what Warren buffet advised investors to do. Be Greedy when the crowd is fearful and be fearful when the crowd is greedy. But most people get greedy when everyone is greedy and fearful when everyone is fearful, I think it’s normal. It’s FOMO, the natural Fear Of Missing Out and also the fear of losing when its not going as good as they expected it to. When bitcoin was at $69k people wished they had bought at $20k, well, it’s $20k now, people are scared and saying crypto is dead or going to zero. For how long will the roller coaster go?

I have come to the terms that some people are just trend followers, they love buying high and selling low, I don’t know how long they will keep doing it, and how long till they learn their lesson and learn to stop buying the top and selling the bottom.

$1 Million Possible Price Before The End Of The Year?

People always forget to zoom out, bitcoin has done really great for itself, bitcoin is up more than 1,000,000% from its all time high, and the fact that bitcoin has seen the amount of progress within a short while is the reason people are supposed to be more bullish on bitcoin, because this is not its peak yet. But $1 Million bitcoin price before the end of the year is something I have a shaky feeling towards. This is because, $1 Million sounds really high and outrageous, cmon, it’s $1 Million, so anybody that owns a whole bitcoin has $1 Million, the market cap will be over $19 Trillion if the supply of bitcoin is still at 19 Million+. This means that bitcoin will be the asset with the highest market capitalization in the world. How much adoption do we need to achieve to attain that?

But then anything can happen in this financial meat world. Money is a state of mind, currency and value is a state of mind. If the world decides to place a mass demand on bitcoin, the value of bitcoin can easily get to that $1 Million price. Besides the supply of bitcoin is limited to 21 Million, so expect the price to pump. Bitcoin has proven to be fast, secure and transparent, it’s possible that people will adopt it better and choose it. We still have time and we are still early.

Posted Using LeoFinance Beta



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2 comments
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That is the overall negativ mindset of people. They WANT to whine. They also want to be rich and they take some shy steps at worst possible times. And they can whine again when they fail.

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