I think the price action is satisfying. Seeing bitcoin only through its fiat price is kinda missing the point. It’s so much more. Getting richer is merely a side effect. I like the freedom and censorship resistance. I see price merely as a sign of adoption. And I believe it will keep increasing. It’s already done so much. We must focus on the node war that’s more of a priority right now. Your post sounded kinda bitter. It could fall back to 58k for all I care I would still keep earning it, mining it and buying stuff with it.
Discussion
Bitcoin price is everything.
Because Bitcoin is money.
Because Bitcoin is a store of value.
The only reason people adopt Bitcoin is because it *should* outpace inflation and make you financially free *aka wealthy*.
Dropping to 58k would be horrendous. That means the *greatest* money and store of value of all time has been decimated by inflation over the past 5 years.
Getting rich is what people are here for.
To buy a home.
To retire early.
To afford quality food and wonderful experiences.
To have more than you need today to afford tomorrow.
Not being concerned with price when Bitcoin is *money* comes off as very holier than now and copium / hopium fueled.
Bitcoin is *money*.
Bitcoin is NOT a transcendental way of being or a personality type.
Would you say that previous significant drawdowns were horrendous? Or only if it happened now, since it would not have outpaced inflation?
More so if it happened now.
For the Bitcoin price to have hit 69k in 2021 and 4 plus years later it drops to 58k means that it has been decimated by inflation.
Not everyone buys the dips. Most retail folks FOMO into tops.
If you DCA like a good pleb (<1% of Bitcoiners) you would have done ok the last 4 years :)
But the stats don’t lie:
2013 - 2017 (~20x)
2017 - 2021 (~3.5x)
2021 - 2025 (~1.6x)
Note: this is applying man math, strong math…cycle top to cycle top OR cycle top to current price.
Dropping to 58k from 110k when the last cycle top was 69k is fucking disastrous! Especially with record ETF, Bitcoin treasury and whale accumulation inflows.
Imagine if there was no Bitcoin treasury companies, whales or ETFs! The price would be around 33k! 😂
Stay humble and stack sats for 12 years (2.5 cycles).
well, I don’t think we will get lucky enough for sats that cheap again anyway lol
Btw I just looked it up out of curiosity. The 1 year ago from today return is 60%. Not bad, seems like for anyone who’s DCAing it’s great. I haven’t done the math, but it feels like it’s working for my savings at least.
What do you suggest then ?
Stay humble and stack sats for 12 years (2.5 cycles).
Don’t tell people they will retire their bloodline in a single cycle (4 years).
Stop telling people Bitcoin has a 50-60% CAGR (this is a bald face lie when you omit the early years of $1 - $20,000 growth).
Stop telling people we are in a bull run.
Start applying man math, strong math to TA.
Stay humble and stack sats for 12 years (2.5 cycles)!
:)