Base on what you said that means Tom Lee is a wrong speculator, I have never come across of his speculation, when I saw the news it was surprised to me, for such analysis or forecast he made, that is why I brought it here, nobody knows how many persons Tom Lee has deceived with his false speculation.
If you use the search engine on the forum you will find dozens of topics in which he is mentioned. One from this year where he appeared with speculation that BTC would one day be worth as much as
$3 million - he just didn't say when it would happen. He is one of those who uses BTC to get free PR, nothing more.
I share in this believe as well because Bitcoin have the ability to get there, fixed supply and growing interest in a growing population is an indication that demand will always outweigh supply which, by law of economics, will lead to rise in price. Even though we don't know when the price will reach $1 million or even $3 million, what I consider very important is for us to ensure we have enough Bitcoin in our wallets when we get there. It will be painful that someone who is part of this forum and have followed these discussion yet did not have a fraction of Bitcoin yet watched Bitcoin grow from $100k to $1 million and more.
Your overall point about continuing to accumulate bitcoin remains a good one, Moreno233, especially for guys who are active in this forum and people who have looked into bitcoin a bit. They should be shoring up their own situation, as long as they have some discretionary income, even if their quantity of discretionary income is not very high... .. but yeah, we cannot make choices for people and it can be difficult to have confidence in regards to when BTC is likely to cross either above $1 million or $3 million, and even though those might seem like large numbers, substantively, those are not even very large numbers in terms of where the portfolios of many of us have been.
Even you, Moreno233, you are fairly new to the forum and to bitcoin, and maybe in the very beginning of your time here, you might not have had been as informed about bitcoin, yet you have had a whole cycle involved in the forum.. so surely it is possible that you have been able to accumulate a decent amount of bitcoin - at least to have around a 4-year headstart over folks who are just getting started in bitcoin in more recent times and also in terms of some members who might be suffering difficulties to either get started and to put some kind of a BTC accumulation plan in place.
There are so many of us who have thought that we are way too late.. yet if we spend a whole cycle or more accumulating bitcoin, we may well start to feel that we are starting to build up a decent enough BTC stash in order to start to feel comfortable in regards to our making progress within our means.
I would argue that the guy who accumulates through buying ONLY has a plan and has decent likelihood to be making measurable progress in regards to ongoingly building his BTC stash to higher levels, even if sometimes he wished that his BTC stash was BIGGER, yet the one who is fucking around with buying and selling and trying to accumulate bitcoin by playing the waves of the BTC market. I doubt that such a guy is sufficiently focused and/or likely to be able to make as much BTC stacking progress, as compared to the guy who focuses largely on ongoing buying only.
Surely there can be guys who take more than a whole cycle to learn the lesson of accumulation of BTC through ongoing buying, and perhaps there is a bit of a mindset in order to really make progress down such path of building up a bitcoin stash, even if costs per BTC might be higher for the guy who is ongoingly buying BTC, yet at the same time. if his timeline is long, the costs per BTC will likely work itself out since bitcoin is designed to pump forever (even though yeah, it is not guaranteed, so we likely have to be careful that we don't mess up our cashflow management practices when we are in the midst of building our bitcoin stash).
True, but the second mouse gets the cheese.
Or gets laid.
It's funny but true. gets the cheese or death this cycle continues. just be patient. HODL for long then
suck the cheese and go to 'Fuck you status'
source FOR CHEESE in FUTUREFrom my perspective, getting to "fuck you" status is a bit of a different idea, since fuck you status relates to the ability to live off of your BTC and/or any potentially mostly passive income sources, so that you do not necessarily have to work for anyone. Work becomes optional, and surely there are levels within fuck you status.
It tends to take a while to get to fuck you status, and to me it seems that even if guys spend 4-6 years investing into bitcoin, yet if they are merely investing around 10% of their income into bitcoin, they are less likely to get to fuck you status in that time. Accordingly, there is a function or amount put in and passage of time, since even if a person were to be able to put a whole years of his income into bitcoin in 4-6 years, BTC prices would likely have to go up 10x or more in order for him to get to entry-level fuck you status.. so there tends to be a bit of speculation regarding bitcoin's upside potential, which has frequently been the case and distracted folks into other projects and/or investments since they were worried about bitcoin's future return, as compared to its historical return.
Accordingly, even historically, a person might have had been able to put less than a whole year's of his income into bitcoin.. and let's say that he had achieved an average cost per BTC that was less than $5k.. so then if he built up his bitcoin holdings, so then now he would be more than 22x in profits based on BTC spot price and he would even be close to 12x in profits based on the 200-WMA... so then the question still might relate to how much he put in, and if he ONLY put half a year of his income into bitcoin, then he might not quite be at entry-level fuck you status, yet if he had put a whole year of his income into bitcoin, then it seems to me that he would have had entered into fuck you status.
Part of my point is that there still may well be some need to commit a decent amount of income into bitcoin in order to get results, yet at the same time, bitcoin has been a great investment for those who have built up their BTC stash.
The day started with dump below 108K, and now ending with pump
above 112K almost 113K. And gold down 5% for the first time in months. This is interesting. Bear market over?
We were never in a "bear market."
We had an ATH of $126,272 on October 6. Therefore whatever BTC price performance that we had in the past 2-ish weeks was a "correction" at most.
We might not agree exactly how to define "bear market" in regards to bitcoin, but it should be fairly clear that we are not in one in recent times, including even the last 6-ish months or more.
I personally continue to proclaim that we have been in a bull market since November 2022, even though we were not necessarily confirmed to be in such bull market since either mid-2023 or perhaps as late as October/November 2023.
I understand that guys like to throw out the term "bear market" when they are talking about corrections, yet it remains quite misleading to be so loosey goosey in bitcoin market descriptive choices...
The day started with dump below 108K, and now ending with pump
above 112K almost 113K. And gold down 5% for the first time in months. This is interesting. Bear market over?
Is this bear market in the room with us now?
For some peeps... "The bear felt like it was here" in their imaginations.. blah blah blah...
How ridiculous to go from an ATH on October 6 and then into a supposed bear market.. all within a mere two weeks.
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