Whenever you see Bitcoin's price drop, check the power law chart.
Bitcoin's price currently sits at around $66,000 per coin.
The support level (that Bitcoin has never dipped under), is c.$58,600.
It's linear value (ie the green line), suggests Bitcoin should be around $165k per coin today.
The resistance line, that it surpassed in 2014, hit in 2018 and got 70% of the way to hitting it in 2021, is $581k today.
This tells me one thing: Bitcoin is undervalued, underappreciated & misunderstood.
For those that understand what it is, this is an opportunity.
This is like $5k in 2020, or $16k in 2022.
What would you give for an opportunity to buy at $16k again?
We'll be speaking of $60k in the same way in 2029.
There are calls that Bitcoin is dead. That this is the start of Bitcoin going to zero. That its going to drop to $40k before miraculously returning to an ATH.
All predictions made by people who are using emotion, rather than historical data & math.
Bitcoin as incredibly oversold at these prices.
It wont stay like this forever. Those hoping it fails are going to be in the wrong side of history.
I'm buying more.
Bitcoin will have its turn. Just you wait.
All these moves in equities were a norm in bitcoin. And when the capital finally rotates into bitcoin, the moves it will make will be biblical.
@aristotlegrowth Bitcoin will have its turn. Just you wait.
All these moves in equities are a norm in bitcoin. And when the capital finally rotates into bitcoin, the moves it will make will be biblical.
Holding Bitcoin Is like riding a roller coaster w/ a weak stomach.
Either you're going up or you're throwing up.
But holding most any other crypto is like holding deez. And, by that, I mean nuts.