Bitcoin’s price is down over 10% from its all-time high and its critics are taking victory laps this week as bitcoin has plummeted all the way back to… $97,000.
The price of a bitcoin is almost $100,000. To think that the “dip” This asset is now just below that milestone and shows the progress it has made over the last 15 to 16 years.
Over the past year, Bitcoin is up more than 128%. According to historical patterns, bitcoin is now entering its third year before a major correction. This tells me bitcoin hasn’t finished pumping, but it is taking a break before the next leg of its rise.
#Bitcoin Based on past trends, we should expect to see continued pumping next year👀
What will the BTC value be in 2025? 🚀 pic.twitter.com/VFX6jNgvvP
— Bitcoin Magazine (@BitcoinMagazine) December 13, 2024
Holding Bitcoins can be beneficial. scary at times for new Bitcoiners. This asset is volatile both ways – which is great when it’s pumping but it makes people rethink their lives when it’s dumping. If you are new and bought the local top of $108,000 and are panicking, take it from me, someone who has been in Bitcoin for almost eight years now – you’re going to be fine.
It is good to see the market pullback. The only concern you need to have is that you are not accumulating more bitcoins today.
The price of Bitcoin is not as important as learning the basics of Bitcoin. Bitcoin is an unpredictable beast, and it will experience downturns as harshly as its upswings. The following is a guide to understanding Bitcoin. volatility, even the downturns, are a good thing for many reasons – it creates opportunities. It is especially important for bitcoiners who are new to the market, that they take advantage of buying bitcoins at lower prices.
It’s important to always zoom out when in doubt and look at the bitcoin trajectory. Bitcoin could experience one of two scenarios.
1.) Bitcoin is going to fail, and it will be $0.
2.) Bitcoin will be successful and its price range could reach the millions.
Option number one is off the table because I believe Bitcoin will never fail. Option number two is the most likely outcome.
If option 2 happens, well then you need to stack up more bitcoins on each downturn.
When in doubt, zoom out.
HODL ✊ pic.twitter.com/mr61ppIn3Y
— Nikolaus Hoffman (@NikolausHoff) December 20, 2024
This is not a good article. Take. Opinions are those of the individual author and may not reflect BTC Inc.
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Source: bitcoinmagazine.com
