[So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?]

Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market.

The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been.

Strangley or not though, I'm not worried. For me this just seems like part of the plan.

I'm not interested in wha the price of Bitcoin is today, this week, this month, or this year. I'm interested in what the price of Bitcoin is going to be in 2, 3, 5, 10 years time.

This could be a great buying opportunity for additional accumulation (not advice).

The majority of sentiment on this forum seems to be positive, but I am seeing some uncertainty.

So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?

[My assumptions are based on research I've carried out and summarised in the below video:]

I think it's important to consider what impact the recession that's upcoming will have on Bitcoin.

Bitcoin has never been through a recession, and so we don't know how owners of and investors in Bitcoin will react.

My thinking is as follows:

1. Retail investors by and large, will need to sell/spend their Bitcoin to pay their expenses and suppor themselves through the recession. So this could cause a dip in the price and a lessening in demand throughout the period.
2. Institutional investors may well choose to sell Bitcoin during the recession, in order to move funds into less volatile assets such as Gold.
3. Wales will likely hold their Bitcoin, and even pick up additional Bitcoin during any dips in the price, believing that Bitcoin will outlast the recession and will be far more valuable within the next 5, 10, and 15 years.
4. There won't be any parabolic rises seen in Bitcoin as a result of FOMO after the halving. This requires retail investors who have excess cash, or access to cheap credit, both of which are lacking during recessions.

My assumptions are based on research I've carried out and summarised in the below video:

https://youtu.be/faAjgUZJu0k

How do you think the recession will affect Bitcoin?

Overtime I've researched what has made gold desirable as a store of value.

Additionally I've come to understand the limitations of Gold, and why I believe Gold will be seen as the go to store of value less and less going into the future.

We're living in an increasingly high speed, digital world, where people expect instant access to their funds and their stored value.

Gold cannot and will not be able to offer this to future generations, who will not accept the limitations of Gold.

I believe Bitcoin meets the and surpasses many of the attributes offered by Gold.

For this reason I think Bitcoin will grow to become the primary store of value for people, and will begin taking market cap away from Gold.

I've created a video below where I list the attributes that Bitcoin has, that Gold simply does not have, and why Gold cannot compete with Bitcoin.

I believe proponents of Bitcoin have been too soft on Gold. Gold is severely limited.

Please watch the video and let me know what you think. Thanks

https://youtu.be/UyaNJMxWmSU

[That’s if it goes according to the plan I’ve detailed here:]

Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.

I haven't come across many other BTC enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.

My plan, simply put is:

• Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
• Wait for that investment to grow by 5-10x
• Pull out my profit and invest into residential property
• Live off the rental income (passive income will be £100,000 / $120,000 p/a)

That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ  

Some may perceive my plan as extremely reckless.

I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.

If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).

If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.

Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.

If I’m wrong, I’m wrong. That’s it. Start again.

But if I’m right, my life will change.

That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here: https://youtu.be/SiYc6ipKefQ

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.

The price of Bitcoin has been consistently trading between a range of ~$9300 and ~$13,000 consistently for the last two months.

There seems to be very strong support levels at the $9300 range, which we are not too far from.

I've done a bit of technical analysis (see video below) to briefly outline why I think the price of $9,300 (if we hit it) will represent an amazing buying opportunity.


Video here: https://youtu.be/1oQLG62wbyU


This is especially true when the price of Bitcoin over the next several years could be in the hundreds of thousands.

What are other people thinking? It would be great to get other Bitcoin trader's opinions on this.

Whether you agree, or especially if you disagree I'd love to hear your opinion.

This way we can learn and consider a different perspective.