On the Ups and Downs of Bitcoin Price
Don't let them change your long-term vision.
The world's cycles never change. Up and down, from age to age.
This meaningful sentence about the nature of life does not come from me, but Marcus Aurelius. Marcus Aurelius was a Roman emperor, Stoic philosopher, and writer born on April 26, 121 in Rome and died on March 17, 180 in Sirmione. So much for the little historical parenthesis.
This view of the nature of life seems to me to be relevant to what we are experiencing as Bitcoin HODLers.
While initially, you thought that the price of Bitcoin would just go up almost linearly - isn't Bitcoin a NgU technology after all? - you realize over time that things are much more complex than that. The price of Bitcoin does not move in a linear fashion, but rather in successive upward and downward waves.
Of course, the success stories of investors who managed to make a fortune with Bitcoin never confronted you with this reality, which you will have to learn to deal with. If you don't, you're bound to end up losing money by selling off your Bitcoin. Panic will override your sense of logical reasoning.
Even though Bitcoin is an incredible monetary revolution that will change the world of the future for the better, nothing has ever been easy before, and nothing will be in the future. Bitcoin has always been built in the face of criticism. Only the nature of the criticism of Bitcoin has changed over time. Bitcoin was initially derided as a utopia of a few geeks. Over time, Bitcoin has become a threat to be defeated in the eyes of the powerful people at the head of the current system.
Bitcoin's primary concern is that it gives the power of money back to its users, and exposes the flaws in the current monetary and financial system. Bitcoin is something that central banks cannot control. Nobody can control Bitcoin. That's a fundamental difference, and that's why Bitcoin is the only thing you can own no matter what.
For all the good things about Bitcoin, you can't have any guarantees about its short-term price movement. The guarantees Bitcoin does give you are in its protocol. Its protocol has remained unchanged since its inception. In a world as unstable as ours, this is an incredible thing that allows you to live your life on your own terms.
To take full advantage of this, you're going to have to be able to take the long view, as the price of Bitcoin will go up and down in a cyclical fashion. This is part of the nature of life, nothing more and nothing less. When the price of Bitcoin rises and the charts turn green, enjoy things, but don't deviate from your long-term vision.
Conversely, when the price of Bitcoin falls and the charts turn red, accept that this is part of life. Keep your long-term goals, and don't panic. It is at those times when the cyclicality of life seems most difficult that the greatest opportunities for your future present themselves. To take advantage of them, you simply need to be able to recognize them and step back.
This will seem difficult the first few times, but if you stick around long enough in the Bitcoin world, you'll find that you'll learn to appreciate the good times as well as the bad because both are an integral part of life and the path to success.
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Bitcoin is very volatile but if you zoom out it's only gone up and up and up. And it's still very early so you tell me where it's headed.
allways long term vision, HOLD is my strategy, so impacient for trading. Great article