For every person that loves Bitcoin and the general idea of a decentralized currency, there are 10 more that just want to trade it and make money off of it.This is the case with all kinds of assets.
Whether it’s stocks, real estate, or Pokemon cards, there are more people interested in making money than simply owning the asset because they love it make more money simply see Paraiba World.The main reason to own an asset is to gain value over time, so there is no shame in getting in just to make money.
But anyone interested in owning an asset of any kind should understand that the majority of the market is only interested in making money.There is no sentimental value to them and no reason to hold on if it seems that the value will shrink — even if just for a short time.This is the story of Bitcoin to a tee.Bitcoin began trading in 2011 and did not hold above the $100 mark until 2013.
From then up until 2017, Bitcoin would push $1,000 and then fall back to the $200-$400 range.
It was growing ever so slowly and giving Bitcoin holders a wild ride in the process.Bitcoin began 2017 at just over $1,000 and grew to $3,000 by August.On December 15, 2017, Bitcoin peaked at $19,497, an increase of 1,850% intra-year.Within two months, it was below $7,000.Bitcoin halved from there.
A year after it pushed $19,500, Bitcoin was worth $3,500.Bitcoin broke $12,400 by June 2019 and fell back to $5,200 in March 2020, the early stages of the pandemic.By October it was $10,000 and in January 2021 it was $38,000.