Michael Saylor carried out a survey on X to find out where bitcoiners intend to sell some of their bitcoins?
Bitcoin Forever Laura!
The survey statement was: How high does bitcoin need to go for you to consider selling a small portion of it?
Unsurprisingly, some bitcoiners plan to treat themselves once the $100,000 mark is reached. This is therefore a resistance on which we will certainly observe substantial profit taking.
The popular answer, however, was $1,000,000 forever. Which suggests that mentalities are changing. Bitcoin is increasingly seen as a long-term investment, and not a trading opportunity.
Remember that 90% of traders end up losing money. These are the figures of theAMF. It is extremely difficult to beat the market when trying to take advantage of volatility.
From 2013 to 2021, BTC appreciated by 147% per year on average. $100 invested in 2013 became $343,010 in 2021.
But it is enough to have missed the 10 most bullish days for performance to fall 91% per year.
We still fall to 61% missing the best 20 days, 39% missing the best 30 days, 21% missing the best 40 days, and 7% missing the first 50 days.
In other words, most of the increase occurs for less than 2% of the time. Not being in position during these 50 days turns the $100 into $184 instead of $343,010.
As Michael Saylor says, “trading is a sign of inferior intelligence”…
Bitcoin has averaged over 100% per year since 2009 (when a single BTC was worth $1). What more is needed? Adam Back anticipates $700,000 for this halving.
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