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Author Topic: Will Turnoff Happen to Bitcoin  (Read 482 times)
coolcoinz
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November 14, 2020, 02:43:50 PM
 #41

I don't really care about that. Once you hold long enough and your profit gets big you stop caring about the little things like a fee in USD going from $10 to $20. Each of the coins that I hold is worth more than $10k over the price that I paid for them and the cost of sending them to another address is maybe $10. To me it's a joke, but I realize that the entry level will continue to rise. In 2010 you could simply get a bitcoin for free. In 2016 you could buy it for $200 and send it for $1. Now you have to pay $15k and we're on the way to paying $10 for sending it. It's becoming a safety fund for people who already have money, unreachable for a poor worker who earns $1 per hour in India or something.
The market price of Bitcoin is not consistently and continuously increasing, holding therefore is not enough to make profit. There's this market analysis to when will selling should be made. The market price indeed has increased over the years but it did not make it in a consistent way and given the nature of market volatility, things are not certain in its market value. Not a safety fund still due to the risks involved as an investment. Holding is necessary but as an investor you should be aware of the selling points.

I see that it is increasing consistently in a yearly time frame. If we look at yearly lows, they are higher for each year and between 2009 and 2018 each all time high was surpassed by a new high. Both of these factors indicate a steady rise in value. Trying to catch a swing is fine if you're a trader but for most investors sending coins to an exchange and waiting for the peak can be very risky. For isntance, if you sent coins to an exchange at 11k and it went to 12, you'd probably see it as a high price, not knowing it would later go to 16. Each of these levels (13k,14k,15k) would be a potential high, and while the price kept going up you'd have to keep everything on a centralized exchange.

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