08/12/2022
Disclaimer: I am not your financial advisor and please do your own research before making financial decisions.
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Does anyone even read this? Keeps saying people do.
Look bitcoin is a good purchase now if you are willing to wait a few years after purchasing now or before last 3 months has been decent prices. I wish I could sell my home and just buy bitcoin. But I need a roof over my head.
You will have success even if you buy 5% of a bitcoin and sit on it for 30 years.
I bought bitcoin cheapest was 700 American. Long time ago
But I also bought some at 2700-4000 then it went to over 68000 American which is when I sold it all again.
This is how you make money buy low sell high.
So just like 2017-2018 Xmas rally it went from 2700 to 20000 max USD (American)
We all sold at 18000 or higher or scaled out a little earlier. This was Christmas and New Year’s Eve in 2017
Now this time the current level is new bottom so new bottom is the previous huge bump we had around Xmas in 2017. yes it will go up and down a little but it will continue to hold these support levels. Sure it will go up and down to shake out weak hands (people who get scared over a 30% move overnight up or down) and also to what we call is squaring up which is what exchanges and the people with money into bitcoin and stocks do. They need to square up the stocks at certain prices which is basically in lament terms saying (balancing the books).
If you bought one BTC now at current prices you could expect $200000 if you are patient for 3 years or less or more. Maybe a little lower or higher
The next peak will be so big that the speculation and propulsion of people putting money into buying bitcoin and gathering money to buy bitcoin will be ridiculous. Yes people will be selling their cars to buy a bitcoin at 120 000.00 USD on way up. Today a car costs about $120 000.00
Now unfortunately what will happen with bitcoin is people won’t be able to purchase a full one but only a percentage of one. So like half or 10% of a bitcoin. But on the way up to $300000.00 ideally in a few years people will be rallying. To but even 5% all the way up.
Today you can purchase a bitcoin for the price of a cheap new kitchen or a cheap sedan car. This will be the end of it.
Personally I think everyone should own one bitcoin right now and sell it at top rebuy it at bottom once it peaks and do this every cycle. As we all have been doing.
The reason owning one bitcoin is good is it is insurance against the world and government. It is the only currency in the world apart for alt currencies that is there to help you. But it is safest. It is your only insurance against fiat currency.
Fiat currency is fake. The reserved banks (government bank) in most countries is not backed with gold silver or other metals.
American USD or dollars where always backed by gold and silver. Today it is a FIAT currency so basically it is the American federal reserve saying I owe you I will pay you back they just print money as required. And we are doing this right now after covid pandemic printing money and raising taxes as they want us to return the I O U ( I owe you to reserve banks) the printer never stops when you are a government you can print as much money as you want but then inflation and interest rates rise. We end up paying the bill. As it was a push after and because of covid to reset the economy. It happened marginally in 2006 when the housing market collapsed you can watch a movie called the big short on Netflix which explains it.
Australia’s money was also backed by metal such as gold or similar in the RBA (reserve bank of Australia) they converted to fiat currency in the 1980s we had so much precious metals and we were such a prosperous country but to convert to pure fiat currency we just had to unfortunately be like America and rest of the world.
In 1980 you could buy a car in Australia like a commodore for $3000
In 1984 you could sell it for $6000
People where cheering over the moon but when you sold it for $6000 you actually on paper doubled your money but you actually lost money as interest rates started to encroach 20% by 1990
So let me tell you. Only protection you have is bitcoin from government.
What is in your wallet is more worthless daily.
But bitcoin has only ever gone up even though it went down.
Your your RBA backed currency like AUD or USD in American controlled by federal reserve of America is always losing its worth constantly.
Apart for bitcoin it’s always good to have a few bars of gold probably 100 ounces and maybe 200kg of silver wouldn’t be to bad right now.
Take this for what you want I am not a financial advisor I am not telling you what you should or should not do.
DYOR do your own research and bless u all.
If you want to read Dr google do that.
But since 2016 bitcoin changed my life not because I made some profit in fiat it’s because it taught me about the financial system in the world
Love you all bless
