Confessions of a Bitcoin Maxi
Bitcoin reached its all-time high 6 months ago on 10 November 2021 of $69,044.77. Since then it has lost over half its value with a loss of -54,7%. While many had expected Bitcoin to easily reach $100k this year, it has instead steadily declined. It could fall much further if previous cycles are to be followed.
With the recent sharp move down that, you can see in the chart above, it looks like we are firmly in bear market territory. This could be a self-fulfilling prophecy because those who like to time the market and enter and leave, may try selling now in hopes of buying back cheaper later on. Usually, time in the market beats timing the market, so this isn't what the Bitcoin Maxi will be doing.
In fact, the Bitcoin Maxi isn't even that interested in today's prices. He is still DCA'ing into Bitcoin trying to accumulate as much as possible. If the price goes down and he has any spare fiat lying around, he buys Bitcoin.
Instead, the Bitcoin Maxi is thinking even further ahead. He is looking at the next Bitcoin halving.
The countdown is on. In 2 years and 49 days, the Bitcoin mining rewards will be halved. The current reward of 6.25 BTC will be reduced to 3.125 BTC. This could have a huge impact on the price of Bitcoin then. Possibly people may start to front-run this halving up to 6 months before, but maybe even a year earlier could start seeing some big inflows.
The Bitcoin Maxi, not to be outdone, will be EARLY. He's already stacking in preparation for the halving.
When will you prepare for the halving?
Thanks for reading
