Recently, various communities in the circle have been quite active, with a common opinion being that Bitcoin is about to experience a significant correction, with some even directly stating it might crash below 60,000.
The reason is that the results of the election on November 5 are out. The current rise belongs to the early realization of expectations, similar to Bitcoin's halving; the day of expectation realization is also the day of bad news.
Indeed, logically it seems correct, and there are some truths. Upon careful consideration, many people often focus only on external news and information, neglecting the intrinsic nature of the asset itself.
No matter who is elected, even if it is determined to be bad news, that is only temporary FUD. If you are doing intraday trading, you may need to pay attention, but for us who hold long-term, there is no need to overly focus on news events happening in the market.
As long as Bitcoin is not attacked by 51%, as long as the intrinsic logic of Bitcoin has not changed, and as long as we assess that the current Bitcoin price is not expensive, that is sufficient (previously discussed whether $70,000 Bitcoin is expensive).
Every FUD and crash now represents an opportunity for us to accumulate more. Do not reminisce about the past; look forward more and consider the future.
People always like to reminisce about the past, about Bitcoin's earlier days when it was $20,000, $40,000, or $60,000, which was actually just in 2023. Unfortunately, Bitcoin never lingers on its past, moving forward undeterred through storms.
Most people who reminisce about Bitcoin are those who missed the opportunity. The reason they hesitated to get on board is due to limited understanding (I am no exception; who hasn't passed through being a newcomer? I missed out on Bitcoin at $7,000 when I first entered the circle). I have elaborated on this in (560 million people in the crypto circle, sleepless tonight! Bitcoin breaks $70,000 again; surges and celebrations—this is a party for the successful).
Not being on the bus means you don't know the situation inside; it's all hearsay and feelings. This leads to repeatedly missing out and watching Bitcoin stubbornly march forward without looking back, cursing in your heart, 'Damn it, it will crash sooner or later.'
However, in the long run, Bitcoin's growth is only about moving forward. Bitcoin has progressed alongside time, from hundreds to thousands, tens of thousands, and now to hundreds of thousands. Those who do not have a profound understanding of Bitcoin will always feel it is expensive.
Because vision determines perspective, and perspective determines action.
Hesitating to get on board and being eager to get off may have various reasons, but the main one is that your vision is not big enough.
Jiu Shen mentioned in his Bitcoin accumulation.
When Bitcoin was priced at 10 yuan, they said it was too expensive.
When Bitcoin was priced at 100 yuan, they said it was too expensive.
When Bitcoin was priced at 1,000 yuan, they said it was too expensive.
When Bitcoin was priced at 10,000 yuan, they said it was too expensive.
Now Bitcoin is 500,000 yuan.
Bitcoin seems to always be too expensive; they never want to buy.
When Bitcoin was priced at 10 yuan, we said it was still early.
When Bitcoin was priced at 100 yuan, we said it was still early.
When Bitcoin was priced at 1,000 yuan, we said it was still early.
When Bitcoin was priced at 10,000 yuan, we said it was still early.
Now that Bitcoin is priced at 500,000 yuan, we still think it is early.
In our hearts, Bitcoin seems to always be early; we never want to sell.
Without a vision in your heart, you might withstand a bear market, but you definitely cannot hold during a bull market. When it rises, you will sell; do not doubt that. Brother 480,000 is a living example.
Hesitating to buy and selling as soon as it rises a bit—if you haven't taken specific measures in advance and only swear in your heart, it is impossible to achieve. If you don't leverage the wisdom of seasoned investors, this is a mistake you will inevitably make due to insufficient experience.
The financial market specializes in treating smart people. Finance never creates wealth; it only distributes and transfers wealth!
No one is a god; as humans, we have impulses and are irrational. Why do we need laws? It is to restrain and control mistakes as much as possible, relying on understanding and morality, which is unrealistic.
Currently, the market is close to breaking the previous high of 73,777. Even if it retraces, it may only be about a 10% drop, but there is at least 100% upside potential.
When it reaches $300,000, what do these few thousand matter? Don't get caught up in the details.
What’s more important than when to buy is when to sell. Isn’t there a saying that those who can buy are apprentices, while those who can sell are masters? This is what you need to think about and plan for now, rather than just going with the flow.
That's it for today.
