- Many are hoping to make their ultimate fortune by trading Bitcoin (BTC).
- If that is a guarantee, then why haven’t there been more Bitcoin success stories?
- This is likely because FUD still continues to waver the will of most investors.
Bitcoin (BTC) has been around since 2009. It came with the promise of bringing financial abundance to the common man. Yet, only a few have turned their ‘digital gold’ into actual gold so far. What does one need to do to make a fortune out of Bitcoin (BTC) now?
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Well, to understand this, one must look at the market sentiment through the years and compare it to the price of Bitcoin (BTC) during that time. Let’s start with the market sentiment at $50,000. When BTC value was $50,000 buyers and investors called Bitcoin the future of money. Almost every investor predicted the value of Bitcoin to rise to $200,000-$300,000.
Similarly, when the price of Bitcoin (BTC) was at $40,000, there were many buyers who went all in and invested in the asset. In fact, they said this is a cheap price for Bitcoin since the asset is set to soar in the future.
Likewise, at $30,000 and $20,000 investors claimed Bitcoin was cheap and that they felt like they were buying gold for the price of iron. Some even went on to say that buying Bitcoin at this price was the key to unlocking and cementing generational wealth.
Despite all these words, the market sentiment made a complete 180 degree flip. After the brutal crypto winter of 2022, the price of Bitcoin dipped to below $20,000. Here, investors began to panic sell and resorted to calling Bitcoin (BTC) a scam. They even have the audacity to compare it to a ponzi scheme.
Due to FUD, many investors sold BTC as they expected the price of Bitcoin to continue to drop even further. Instead, Bitcoin went on to make a bit of a recovery, much like many crypto analysts and enthusiasts expected.
Still, non-believers claim Bitcoin and crypto to be a highly manipulated game. Instead they continue to wait for a dip and hope to put in more money later. What many are failing to see is the recurring pattern of buying high and selling low. The key to making a fortune in crypto is to buy low and sell high or to buy steadily and continue to hold for a long period of time.
That’s right, based on historic data and fact, it is clear that more investors need to adopt a bullish attitude in bearish times. It is only when one overcomes fear of loss and failure and continues to ride out the storm that they see their silver, or here, golden lining. It is time to be greedy in times of fear. Choose your next move wisely. What side would you like to be on?
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