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Short-Term Mindset — People Are Not Interested in Buying Bitcoin at $41K, but Rush To Buy at $47K. It is time to switch to a long-term mindset with Bitcoin.

Short-Term Mindset — People Are Not Interested in Buying Bitcoin at $41K, but Rush To Buy at $47K. It is time to switch to a long-term mindset with Bitcoin.



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8 Comments

  1. It’s always amazing how quickly sentiment can turn around in the Bitcoin world. In a matter of hours, the market goes from extreme fear to a neutral sentiment that is close to greed.

    That’s what we experienced on October 1. Again, if I may say so.

    Many were hesitant to buy Bitcoin at $41K in the hope that it would go even lower. $38K was the target that kept coming up. But even at $38K, these people would have waited even lower and not acted.

    However, as soon as the price of Bitcoin rebounds sharply to $47K, then everything changes and these people start to want to buy it. It’s amazing how much power a $4K green candle can have.

    This reveals a problem of a mindset that is too short-term oriented. To take full advantage of Bitcoin, you have to switch to a long-term mindset. That is the key.

  2. Once it goes closer to $50k the hive minds immediately just start thinking of the jump to $100k. At $41k the mind only thinks of the jump to $50k. Either way, it’s a long term hold and $9k price difference won’t matter much 10 years from now.

  3. The vast majority of exchange volume is driven by trading. That’s true in every financial market… Forex, securities, futures, it’s all speculation. There are people buying and holding, but their volume is much smaller.

  4. tldr; Bitcoin broke out of a Falling Wedge on October 1, 2021. The shorts that were waiting for a fall in the price of Bitcoin were liquidated, which allowed the falling wedge to be exited at the top. Bitcoin has everything it takes to beat its April 2021 ATH and go much higher. Bitcoin’s time has come and its revolution cannot be stopped.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  5. That is because most ppl are not reall investors or real traders (those words mean diff things) the dumb money buys at all time highs, jumps on the hype train– when ya momma, the clerk at the store and avg ppl and media are talking about a market it is too late to jump in.

    SMART MONEY accumulates deep into value and/or dollar cost average in at a consistent rate knowing how much they will remove once they reach certain targets, and how much they will leave in.

What do you think?

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