Every 4 year halving-to-halving cycle sees so many people sell, chasing quick cash, only to realize they'll never be able to buy as much Bitcoin as they used to have.
Owning 100 BTC in 2012 was nothing.
How many of the people who owned 100 BTC in 2012 still owned 100 BTC in 2016? Very few. Most sold. Now, they tell stories about what they used to have.
Owning 10 BTC in 2016 was no big deal.
How many of the people who owned 10 BTC in 2016 still owned 10 BTC in 2020? Very few. Most sold, but they probably don't talk about it.
Owning 1 BTC back in early 2020 wasn't that big of a deal.
How many of the people who owned 1 BTC in 2020 still own 1 BTC today? Many of them sold and can only wish they were still whole coiners.
The 2024 halving isn't even here yet and we've already reached the point where it costs over $6,800 just to buy 0.1 BTC.
How many of those who own 0.1 BTC today will still own at least 0.1 BTC in 2028? Many will lose it by trying to time the market.
People keep cashing out, thinking they'll buy back in when the price drops, because of course they will, right? But that money's long gone when the price drops because when they had money in the bank, they spent it. And that assumes the price drops. There will come a time when buying Bitcoin under 70k will seem like the good old days.
Time in the market beats trying to time the market.
Hold on to what you have.
Putting It In Perspective:
Check out the Bitcoin Rich List, published by BitInfoCharts.
53% of all addresses have less than 0.001 BTC.
Only 1.93% of all addresses have more than 1 BTC.
Only 0.29% of all addresses have more than 10 BTC.
Granted, those are addresses, not wallets, but I bookmarked that page a long time ago. The numbers go down every year.
And the number of addresses with more than 10 BTC is down even though the balances of addresses held by whales keep growing. In other words, institutions and the uber-wealthy are buying up more and more BTC while Hodlers keep ending up with less... because they sell.
Most of those who sell will regret it. They'll end up buying back in at a higher price, or they'll become part of the crowd who tell stories about how they used to be in Bitcoin, back in the day.
Don't be your own worst enemy.
HODL.
(...and secure your coins...)
— Posted on March 4th, 2024