Bitcoin's has been dropping drastically, and many people are wondering what's causing the issues.
Is it just a normal market correction, or are bigger factors affecting investors' confidence? If you're holding Bitcoin or planning to buy, understanding why the price is falling can help you make smarter decisions instead of acting out of fear.
I will like to know your opinion, contribution and perspective regarding this. Thanks!
I would love to see it drop a bunch more. This is how we cleanse..
Instead of wondering whether you should be worried about Bitcoin's current price in "weak money," you should ask yourself this question:
Should you even be looking at Bitcoin's price in weak money?
Bitcoin's goal is to enable us to break free from the current system.
To do that, you have to step outside the rules of the current system's game. You need to stop measuring Bitcoin against weak money. That makes no sense if you have truly grasped the reason for Bitcoin's existence.
What matters are the guarantees provided by the Bitcoin protocol. Those guarantees remain unchanged. Bitcoin offers you the same guarantees today—with a price of $60k—as it did months ago when the price was above $100k.
If you own 0.1 BTC, you own 0.1 BTC out of a total supply of 21 million. That holds true today and will remain true in 5, 10, or 20 years... This is essential for protecting the fruits of your labor.
From there, the aim should be to shift toward the Bitcoin system as much as possible in order to leave the current system behind. Once you do, you won't even ask yourself these kinds of questions anymore.
It requires a complete paradigm shift—but one that will be truly beneficial.
Thanks for your explanation, we keep learning every day.
Yes