Bitcoin Bulls Are Back, and So Are the Wild Predictions. Don’t Be Blinded, and Focus on the Fundamentals of Bitcoin.
No one can give you any guarantees about the price of Bitcoin. The Bitcoin protocol, on the other hand, gives you incredible guarantees.
Yesterday I explained the 3 reasons why the Bulls are back in the Bitcoin market in the midst of a global banking crisis.
The last few hours have confirmed the renewed interest in Bitcoin with the price still between $24K and $25K.
For some, this was all it took to resurrect the risky predictions about the price of Bitcoin in the short term. Every time, it's the same thing, but these people don't seem to understand that it's pointless to make such predictions.
At the beginning of 2023, I explained to you why the predictions could vary so much between $5K and $250K:
As it is now March 16, 2023, my point of view has not changed.
Price predictions are only binding on those who believe them. No one can tell you with certainty that the price of Bitcoin will be $10K or $100K by the end of the year. No one can tell you if the bottom has been reached.
Why can't they?
Simply because no one can predict unexpected events like the war in Ukraine, a pandemic like COVID, or a banking crisis like the one that is emerging in America and seems to be going global.
Of course, we all see that the current monetary and financial system is on the verge of exploding. However, the Fed and the ECB are doing everything they can to save this system at all costs. Under these conditions, you can never have any certainty in this current system, except that no certainty resists the will of the Fed.
The Fed is in charge in the current system which is flawed and not fixable. Don't Fight the Fed is the golden rule on this playing field. If you want to take back control, you must get off the Fed's playing field and onto a more level playing field: the Bitcoin playing field.
And if you choose to come into the Bitcoin world, you should not do so because Tim Draper just stated that he was “almost 100 percent sure the price of Bitcoin will be $250K in 18 months.”
Maybe he'll finally be right by repeating this and shifting the date of his prediction... But if he were to be wrong again and you had based your choice to buy Bitcoin on someone else's prediction, you would not be in control. You would be in disaster because you would be unable to take responsibility for your own choices.
But Bitcoin teaches you first and foremost that you can and must take power. This applies to your money, but also to your life in general in my opinion. It is up to you to decide what you want to do with Bitcoin. As I say in my book “The Truth About Bitcoin,” don't make the mistake of taking my word for it, but check everything out for yourself!
Just as you shouldn't take Tim Draper's word for it, don't give Plan B's Stock to Flow model of the price of Bitcoin any more weight than that. This model is only binding for those who believe in it.
Finally, don't believe those who tell you that the bottom has been reached for Bitcoin. These are the same people who told you at the end of 2021 that we would never see a Bitcoin under $20K again. Never say never with a free market like Bitcoin.
The bottom may have been reached, but maybe not. However, the main thing is elsewhere, as I explained to you recently:
Instead of looking down with fear, look up with confidence, because that's where the Bitcoin revolution will take us.
Bitcoin can give you incredible guarantees, but certainly not about its price. The guarantees that Bitcoin gives you are related to its protocol. These guarantees are at least 10 in number:
There will never be more than 21 million BTC in circulation
10 minutes delay on average between the issuance of each block of transactions
An adjustment of the mining difficulty of the Bitcoin network every 2,016 mined blocks
A decrease in the reward given to miners for every 210,000 blocks issued
A consensus algorithm based on Proof-of-Work
Bitcoin is the most secure decentralized network in the world
A permanently available network
A never hacked network
The data of the Bitcoin Blockchain is immutable
The Bitcoin code is open source
These guarantees that anyone can check at any time without permission allow the Bitcoin system to meet the need that more and more people will have in the coming years: to regain control over the fruits of their labor. Bitcoin makes you self-sovereign over your wealth. This is something that is key to why I see Bitcoin adoption accelerating in the future.
If you're going to buy Bitcoin, you need to focus on the fundamentals, and leave all those predictions aside. Take the long view and be patient. Time will make a difference in your favor.
Stay strong, Stay Bitcoin HODLers.
Don't take for granted the word of Bitcoiners who tell you that Bitcoin is an incredible monetary revolution, but verify it for yourself by developing the knowledge to build your truth about Bitcoin.
That's what I suggest you do in the book “The Truth About Bitcoin: Everything you need to build your truth about Bitcoin and stop trusting others without verifying.”
The book is available on various platforms:
In P2P mode in PDF format or EPUB format with payment in BTC (-20% if you buy in Bitcoin): contact me by email at email@example.com
“Bitcoin teaches you first and foremost that you can and must take power. This applies to your money, but also to your life in general in my opinion.” Amen, brother.