Topic: Buy the DIP, and HODL! - page 71. (Read 139061 times)

You seem to be lacking in understanding and appreciation of what bitcoin is as compared to what gold is.

Bitcoin is likely in the ballpark of 1,000x more valuable than gold, but currently bitcoin has a market cap of about 1/8th of gold.

Even if bitcoin does not reach gold parity this cycle, it seems quite likely that it will reach gold parity and march towards around 1,000x greater than gold, whether that is bitcoin's price going up or gold coming down or a combination.. and such fair valuation could take 50-200 years to play out.

You can believe what you want in terms of your own ideas of relative valuations, and by the way, just think about it, gold has been pretty fucking flat since bitcoin came into existence (and especially since 2011), and if you think about the situation, even if we start our calculation from 2012-ish when bitcoin was $5 (and had a market cap of about $60 million), gold still had a market cap of around $6 trillion back then, so bitcoin is already eating gold's lunch and you can fail/refuse to recognize what it going on all that you like, and hopefully you either have not underprepared or perhaps you could spend time looking into the matter so you are not in such disbelief when you are going to be likely to continue to witness bitcoin ongoingly eating gold's lunch in the coming years.....


How do you know how long it is going to take bitcoin to reach $500k to $600k? 

It could happen within the next 6 months or yeah, it might take more than a whole new cycle.

it is also possible (perhaps 2% odds or so) that bitcoin could get above $1 million this cycle (meaning either in 2025 or perhaps no later than the 1st half of 2026). 



Market cap is a decent measure of value at least in terms of current market price.  Of course, many of us consider bitcoin to be around 1,000x better than gold in terms of its verifiability, scarcity, divisibility, transportability and costs to store/transport and less need for a third party, and some other moniness reasons.  The mere fact that bitcoin is better does not mean that the market is going to recognize that right away... so it could take 50-200 years to reach such relative valuations.. but then it could happen more quickly, too.

How do you know that bitcoin price will go down to $88k dollars? Your inconsistent statements seem nothing but foolishness to me. Instead of fooling yourself, think positively about Bitcoin. Looking at the upward trend in bitcoin price don't you think that this bitcoin price is only going to go up and not down maybe there is no chance of bitcoin price going down at the moment. You should keep in mind that right now Bitcoin price seems most likely and easy to rally from the lows of $88k to touch $100k. Just take a look at the market today and you will see that the price of Bitcoin is very close to touching the 100k dollar milestone. i think just need a little push, so the price of Bitcoin will potentially touch the $100k dollars.

BTC Gradually then suddenly.

Since bitcoin is a long-term investment, setting up emergency funds or building up emergency funds as you are accumulating bitcoin is very important thing to do because it will help you to sort out your unforeseen problems anytime they arise, which will allow you to hold your bitcoin investment for the long term because you will not depend on your bitcoin investment to do that. Any investor who doesn't make provision for his emergency funds as he is accumulating bitcoin has a big possibility that he will end up selling his bitcoin investment to survive because, at some point in your accumulation journey, you must need a new thing in your life to enhance your productivity, and if you don't make provision for emergency funds, there is no way you can make that happen or achieve that, and it might force you out of the game, partially or permanently.

Don't be confused with your words, we are just between $1K-$2K apart from hitting our $100k target, there is no harm in believing that we can hit the target by tomorrow or next.

There is no time needed before we call it in, we are not ending this month without the big surprise, even if it exceeds this weekend we still have few days inside the new week to make it happen, now it has gotten this close anything is possible and our hopes are solid than ever.

It won't take much before bitcoin will hit $100k it might even happen the next day or the next week , I believe bitcoin going to hit $100ksh this year , and  we will be expecting another break through in the year 2025 . Many folks that have gotten enough bitcoin for themselves already, are literally waiting for $100k before scraping some profits .

While those that haven't gotten are still trying to build a Better stashes over time , and don't worry keep accumulating and build up a nice Stash I believe yah hardwork will surely pays off (bitcoin is good at that ) .

I have the feeling that by next year Bitcoin target would be the range of $150k-$200k and above.

I am not good at analyzing charts about Bitcoin prices, whether it will continue to rise or fall in the future I don't care anymore, what I remember is that BTC only has 21 million coins and now the ones in circulation are 19.79 million. For that I have removed the concept of waiting to buy, I prefer to buy when I am due.

I am friends with many investors on social media, they are not good at analyzing charts at all, they only apply a consistent system in the investments they make. I think they will be more successful compared to those who are good at analyzing charts but they don't buy them.

I am still in the accumulation stage because my target has not been achieved as I planned, of course I will not look at the price when I buy bitcoin. But yes with the current price I get less bitcoin than before the spike occurred, Yes that doesn't matter because slowly I will succeed in collecting more bitcoins.

Unforeseen circumstances must be part of your investment plan when you are starting your bitcoin journey by setting up an emergency funds to take care of such problems. If a new investor does not have an emergency funds in the beginning of his investment, he can set it up with one part of his discretionary income and use the other to be investing in bitcoin along side. Your emergency funds should be at least three months of your monthly salary.

Any investor who does not have an emergency funds and is investing in bitcoin is gambling because when a real emergency arises, he will sell part of his bitcoin at loss even if the price is dip because you must solve such emergency.

How do you know that a dip will come that will make bitcoin price go to 88k. Don't you see that more people are buying bitcoin currently than selling and that's why the price is pumping, because they understand that soon government will start buying bitcoin aggressively overtime and they are using this opportunity to acquire more bitcoin before that time since many investors are now eyeing bitcoin as the new asset that can multiply their funds in the long run.

It might shock you that 100k is likely to be achieved by the end of this month than 88k because we only have 2k+ for bitcoin to reach 100k, and the price touched 98k today. Bitcoin is closer to 100k than 88k so we will see 100k price first. If you are waiting for the price to dip before buying, and you are consoling yourself that bitcoin will reach 88k, you are still sitting on the fence waiting while others are busy buying and stacking their bitcoin stash for the future. I hope you don't regret it if you are waiting for the dip before buying because it's a wrong approach, and you can start buying right away with DCA and grow your portfolio weekly overtime if you have the funds.

My explanation in regards to this, is just an example to let him know the range at which bitcoin will climb to meet up the standard of the market cap of gold. But however it will surely supersede the ball mark of $550k to $600k. Like I said it was just a mear assumption of which I included that it will need to grow by 6x to 7x to meet gold, which implies that it will surely surpas the $600k to achieve that.

You are actually correct though, but we should also consider that Gold has been an asset that has lasted for decade and bitcoin is Bearly 15years old now compeard to gold. So surely if bitcoin is 15years and  achieved %20 of Gold market cap, meaning that if bitcoin surely reaches 30years it will do wonders. Morover investors are switching to the most volatile asset bitcoin thereby increasing the market cap of bitcoin. So surely there is a competitive Market. The reason while gold has such market carp was because it was the best reserved asset as at then. But now Bitcoin has proven to be better than gold, bitcoin will gain popularity and attention.

It's a fact that many sell orders are already set on $100k. But there will be investors that are also waiting for some to catch from the sellers.

As a support, this is a good price.

I just want to quote myself again.

Me, too. But, I think for 100K, even though it is very close, it still needs time and it could be the end of December or early January 2025. My view is that currently many are selling temporarily and in the near future we will also enter the weekend holiday period.

88K is very potential to be awaited.

Looks like the celebration at 100kish price is closer than I thought as we can all see that Bitcoin at 100k is in sight, I had my thoughts but the perseverance and Unshakable Faith of the veterans in this thread to keep hodling is indeed remarkable.

 in this thread countless knowledge as been shared, Supportive community formed, new hodlers like myself as been inspired as well. I must say that I have finally learned that Long term Vision outweighs short term gain and patience is key in volatile market.

HOLD THE LINE, 100k IN SIGHT. 

Your calculations are correct but it will take more than that for Bitcoin to surpass Gold. This is because we know that it will take two or more cycle for Bitcoin to get to $550k or $600k and within these years Gold will not just sit at one point without increases. Only this year, 1 ounce of Gold moved from $2,150 to $2,600. Although Marketcap isnt a big deal to me. An increase in the market cap does not mean equal amount of money was put into the asset. Bitcoin marketcap if Gold and Bitcoin has similar marketcap the value of Bitcoin would be far way worth more than Gold.

Going through your coment I found out a thread created in regards to this Which says When will Bitcoin catch up with Gold in capitalization?
But nevertheless after a deep thought I discover that the market capitalisation of bitcoin to equate with gold is easy using the formula Price of coin × total supply = market cap for example if 1BTC @$96000 × 21m supply of bitcoin= $2.16trillion meaning that for bitcoin to compete with gold Market cap it must surely be 1BTC @$550 - 600k × 21million= 11.5Tr to 12.6Tr. so surely it is easy to determine by this formula even though it might not give the exact figure but must be approximately. So when you think of bitcoin cap to compete gold think of 6x to 7x of bitcoin growth from now.

It will definitely be more than that. But it's a bull market, it's a time when bull posts will have a higher tendency of being more "excessively bullish" and more extravagant.

Although, a bull post of "Bitcoin to surge to $10,000 per coin" during its early days was probably "excessive" and "extravagant" as well.

    

What do you really think i meant taking time to learn about Bitcoin? Literally i don't mean you have to take long like a month or two to learn about Bitcoin before you can start investing. Moreover we can start our investment when we have the basic knowledge. I don't expect someone who knows thing about securing their Bitcoin or buying from CEX and transferring them to their wallet ti start investing in Bitcoin. Its no magic, we must know about this before we can start investing even if we have all the money in the world.

You are completely driving yourself astray in this discussion. A complete newbie cannot understand the reason why they want to HODL if they haven't made personal research or learn about it. You are making Bitcoin investment to look like something you just wake up in the morning and just throw some cash into it. When you don't know how to buy it, where to put it or how to provide security. And most importantly what to do in possible case scenario. Wake up buddy! before you end up misleading people around you.

I can agree with this. Being able to understand Bitcoin doesn't mean they want to start investing immediately. Everyone has their choice and would love to invest at their own pace. But i have met people who understand Bitcoin and are skeptical about investing in it while others has little or no knowledge about the asset but are willing. Still, its not advisable to jump into Bitcoin without knowing little about it. The reason is, once you really know how Bitcoin works, it is difficult to back out of it. The problem is that many people don't want to learn they just want to start profiting.

unforeseen circumstances are very much a part of life and whether you prepare for it or not, life happens and you don't have a choice that face it squarely when it happens, this is the reason why when we talk about investing in bitcoin for the long term, we don't like to do so while neglecting the place of making provision for an emergency fund. if you've adequately made the right provision for your emergency, you protect both yourself and your investment from unnecessary fingering when emergency comes in.

it will be foolishness to assume that emergency wouldn't come at some point in time, and it will be more foolish to assume that without making provision for an emergency fund you can afford to keep holding on to your bitcoin without selling it just because you've decided not to sell your bitcoin holding. unforeseen circumstances are an obstacle that can hinder you from successfully investing in your bitcoin but when you adequately plan for it, you can easily overcome it without interfering with your investment to solving those needs.

you are absolutely right.
we have a local adage that goes (problem no de finish) which means that there is always one problem or the other at any point in time. you just have to get used to them and plan for as many as you can handle while doing what's most important for you. if you stop investing because of a problem or slows down on your investment or even sell your bitcoin to sort out your needs, the fact still remains that more problem will eventually come up again in the future that you might lack the resource to handle them and that's when you will understand that you can still survive without paying attention to some of these p[problems.

one reason why the concept of investing what you can afford to lose always makes sense in some way is that it allows you to treat your investment as though it's no longer your own. meaning that regardless of the emergency that comes up, you will strive to solve them as though you don't have your bitcoin holding at a corner. this gives you the discipline not to always assume that your bitcoin investment can always be used to sort out any minor needs or emergency.

Bitcoin's market capitalization achievement, which has now reached USD 1.77 trillion, is proof that Bitcoin is an asset that is increasingly accepted and will even continue to develop into a potential investment alternative in the global arena. Bitcoin is the 10th largest asset in the world, currently in 8th position and has beaten silver which is currently in 9th position with a market value of USD 1.70 trillion.


Of course we have to HODL longer, because that is very possible.

I think you misunderstood cryptoprincess point above. He's not referring to doubting bitcoin investment or getting distracted with your investment. He's probably referring to immature selling of your bitcoin investment due to unforseen circumstances and this will shorten your investment journey despite having a clear objective and strategies for your investment.

Unforeseen circumstances can never be avoided thou but I don't really see it as an obstacle to someone from reaching the goal set aside for their bitcoin investment. There is something we called contingency plan and while designing your planning prior to beginning of your investment, contingency plan is very necessary as it is going to handle possible circumstances while your investment remains intact.

If you keep on interfering with your investment due to unforseen circumstances, I'm afraid you might end up with no investment and unforseen circumstance will keep repeating itself.

If bitcoin were to reach a market value equilibrium similar to GOLD then this would need to be above $300K perhaps or even $500K, this is not impossible as bitcoin would be equivalent to the market value of GOLD on a market capitalist basis.

Just imagine every cycle bitcoin goes up 2x - 4x then the equilibrium will be equivalent to GOLD.

We need to HODL even longer.