Many times I've missed the opportunity of buying Bitcoin dip because of media sentiments. In 2022, when Bitcoin was $17,168.57, which would have been a good time to build a larger holding, some claimed Bitcoin was on the road to irrelevance others said it was dead. I could understand and agree with them because the value of bitcoin had peaked at USD 69,000 in November 2021 before falling to USD 17,000 as at the mid-June 2022.
After that time, the value had fluctuated around USD 20,000. And the same media claimed it was an artificially induced last gasp before the road to irrelevance. It seemed true as the FTX bust had sent the bitcoin price to well below USD 16,000.
Later in 2023, Forbes headline crushed the confidence of many Bitcoin enthusiasts, saying if ETFs managed by asset managers are too successful, they will completely destroy bitcoin. Other sentiments like Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers and that the approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment.
Yet today, I saw the image above and it suddenly got the question into my head, Is Bitcoin still dead? We've all seen how Bitcoin has weathered through all the critics and FUD to breaking above USD 70,000 steadily since the beginning of 2024. There's all indication it's headed toward USD 100,000. What are you all thinking about these feet.
Should those who didn't buy all along dare to jump in or would you recommend going for ALTs as the rising of Bitcoin often drag along the altcoins. Let me hear your thoughts?
Well when Bitcoin was about 60k i speculated that it could get to the point it is currently and instead of sellling back then i even Hodl and acquired more, cause of the messages from most forum members about the Bitcoin halving and the little research i did concerning it, well we've all seen how it set an ATH to 70k plus in this current month of march, which means in the coming month, it could head towards 100k or more, left for me, i feel there could be a retrace before the halving and i think you could seize the opportunity to acquire BTC if it occurs.
However there are some good Altcoin with good potential that's speculated to attain 100x in the upcoming halving, that you could invest on but instead of giving you a list of some few Alts i invested, I'll advice you DYOR research concerning them. But my advice to those that invest at the right time, Hodl! Hodl!! Hodl!!.