Why 100% profit? Do we know end of bitcoin yet?, or do we know the amount Bitcoin will be in the next coming years? I think saying that it will reward with 100% profit is rather too ambiguous as we may not ascertain what bitcoin holds in the next years. Let's just say, it will reward long term HODLERS and leave the % since it's not known or can't be predicted
It's possible for you to buy bitcoin and hodli till you get 100% profit but it's not guaranteed. Those early investors who bought bitcoin when the price was $1000 have made more than 100% profits for holding till this time.
Surely, in both 2013 and also in 2017, the BTC price crossed over $1k, and there were guys who had average costs per BTC that were at or below $1k, and the first time that they sold around $1k, they were able to buy cheaper, even though it tends to be quite problematic to sell bitcoin with expectations of buying back cheaper.
The 2017 passing above $1k was the last time that we ever saw $1k or below $1k prices again, and in fact the BTC price never went back below $3,124 after the September 2017 push above those $3k prices.
So we can imagine throughout 2017, there were a lot of guys who had BTC costs that were anywhere between $500 and $1,500 who were selling their BTC based on profits that might have had ranged between 100% and even 600%, yet they were also like having regrets of their BTC sales below $3k in 2017 since the BTC prices never ended up coming back to those levels, and there were even guys who were strongly anticipating that BTC prices had to go back to revisit $1k prices and at least below $2k prices, yet their certainties in arguing those expectations did not cause them to happen or even come close to happening.
With the passage of time, bitcoin holders likely gain higher and higher conviction that certain lower BTC prices will never happen again, even though we likely still need to have a plan in the event that such low and unexpected prices were to end up happening.
At the same time, each of us holding bitcoin also likely need to be preparing ourselves (financially and psychologically) for the possibility that bitcoin prices might end up going up rather than down. It is possible to prepare for both BTC price directions at the same time, even though many guys fail to sufficiently/adequately prepare for UP, and yeah, it can take a long time for UP to play out... and we can look at various points in bitcoin's history where the BTC got stuck in down locations for extended periods of time (and feeling especially extended if we are actually holding and continuing to buy bitcoin during those periods).
If I'm not mistaken bitcoin bought way back at $1000k must have grown approximately 6,764.699 times. If you say
6,764.699 x 100
67469.9% profits.
There is something wrong with your math Sim_card.
If we are starting from BTC costs of $1k, then right now the appreciation would be in the ballpark of 67.5x... which would be in the ballpark of 6,750%... .and those guys would have had likely accomplished most of their BTC accumulation prior to 2017 in order to get BTC costs at or below $1k per coin.
For simplicity of calculations we could also have had guys who had costs per BTC that are $10k per coin (mostly accumulated prior to 2021) who would currently thereby have coins that are 6.75x (or 675%) in profits
Of course the guys who have costs per BTC that are $20k per coin may well would have had accumulated most of their coins prior to 2021, yet they could have had accumulated some coins in 2022 and 2023 that had a price range between $15,479 and $30k, and still ended up with an average cost per BTC in the $20k range who would currently thereby have coins that are 3.375x (or 337.5%) in profits, and if the guys are still accumulating coins, there average cost per coin might well continue to go up, and they might well not be motivated by their level of profits, but instead motivated towards ongoingly accumulating enough coins or perhaps more than enough coins.
So for example a guy in his early 40s who might have had been accumulating bitcoin for a few years already, may well be shooting to be able to live off his bitcoin with an
$80k per year income, he will see that right now he would need to have at least 13.7439 BTC to accomplish such feat, yet if he projects out 8-ish years, he figures he would be in his late 40s or early 50s, and
he can calculate from the charts that by then (perhaps around 2033?) he may well ONLY need somewhere in the ballpark of 2.3 BTC to 3.5 BTC in order to support such income level (hopefully in today's dollars, yet he has to monitor that too), and he thinks that he may well be able to accomplish such a feat by continuing to accumulate bitcoin.
And, of course, he knows that future performance is not guaranteed including how many BTC he will need to have and/or how many BTC that he is going to need to accumulate, so he will just continue to accumulate bitcoin and to monitor his progress.
From the mathematics above, it shows that when you invest in bitcoin for long term with DCA and hodli, you can get more than $100% profits. The odd of bitcoin price going uptrend is higher than going downtrend which is the reason why you need to take your bitcoin accumulation very seriously with commitment and determination so that you can stay focus on reaching your bitcoin target even though, profit isn't guaranteed in future. Invest with only your discretionary income. However, profits shouldn't be the main focus but have a bitcoin target.
You are completely correct that guys get so distracted by profits, yet they are measuring them in short term dollars, so if they lock themselves into supposed profits, then they will likely lose their focus in regards to ongoingly growing their BTC stash.. even though they might even be wanting to grow their BTC stash faster, yet they end up gambling with their bitcoin holdings rather than ongoingly growing their BTC stash.
