in

You Want Answers and Guarantees With Bitcoin, but What You Need Is To Learn To Make Decisions for Yourself. | by Sylvain Saurel | Apr, 2022

You Want Answers and Guarantees With Bitcoin, but What You Need Is To Learn To Make Decisions for Yourself. | by Sylvain Saurel | Apr, 2022


Illustration by Sylvain Saurel

The price of Bitcoin has just broken through the $45K resistance that had been rejected 4 times since the beginning of 2022. In a matter of days, the prevailing sentiment in the Bitcoin market has shifted from extreme fear to greed. As soon as Bitcoin passes $50K, it will probably reach extreme greed as it usually does.

Since the start of the war between Ukraine and Russia, the price of Bitcoin has risen by +35%. After an initial drop due to the fear generated by the start of this war, investors began to integrate the risk that this represented. They then moved on to understand that Bitcoin would benefit from what was going to happen in the coming months.

This rise in Bitcoin, which then dragged the rest of the crypto-currency market into the green, raised the same question in many minds: Will it continue like this in the days to come?

I’ve even received private messages from some people I don’t know asking me this. Here’s an example of a private message I just received on Reddit:

This is just one of the many messages I have received in the last few hours. This message inspired me to write this article, I must confess.

Despite all that I write to tell you that it is essential that you make your own decisions, I see that some people still seem to need guarantees about Bitcoin. Some people think they can find guarantees about the price of Bitcoin by asking me these kinds of questions.

My answer is always the same: I cannot give you any guarantees about the price of Bitcoin. No one can. Those who do are simply liars. I only can give you two things about the price of Bitcoin:

  1. My opinion is based on my research. I could be wrong. It is up to you to use my opinion to feed your reflection before making decisions that belong to you and you alone.
  2. My knowledge to teach you to decide by yourself and to show you responsible.

These are the two things I want to offer you about the price of Bitcoin. Nothing more, nothing less. The guarantees that Bitcoin can offer you are more on the side of its protocol. If you dig a little deeper, you will see that they are incredible:

So I’m not going to answer you: yes, you can be guaranteed that the price of Bitcoin will rise in a straight line to $100K by the end of June 2022. On the other hand, I can tell you why I still think for several weeks that Bitcoin will reach $100K by the end of the year.

I will detail the elements that lead me to have this opinion and belief. I could be wrong. It has happened in the past, and it will probably happen again in the future. However, I would have no regrets, because I would have followed my beliefs.

It was when I stopped looking for people who claimed to have all the answers and who claimed to be able to give me guarantees about things they couldn’t control that I started making profitable investments in my life. Why? Because I decided to take responsibility for my destiny as an investor. I developed my knowledge so that I could make my own decisions.

I’m not saying I don’t consult the work of others. On the contrary! Because that’s how you learn. I read a lot of books and articles to educate myself. But I never blindly follow the advice of so-called experts. I seek first and foremost to develop my knowledge so that I can better feed my thought process, and ultimately make better decisions.

Better investment decisions, but also better decisions in my life in general. That’s why Warren Buffett says he reads up to 500 pages every day. Your biggest enemy in life is your ignorance. It is your ignorance that costs you the most money.

By constantly striving to increase your knowledge, you will reduce your ignorance. By doing so, you will make better decisions. By making better decisions, you will maximize your chances of making good investment decisions. It’s not much more complicated than that.

I already explained this a few months ago with an article on the 5% rule followed by explorer Mike Horn when taking action:

For Mike Horn, it is impossible to have all the answers. Once he has 5% of the answers he feels he needs, he takes action. Then he adapts as he goes along. This is finally a good way to move forward with Bitcoin. Follow an incremental approach by constantly improving your knowledge and stacking more and more BTC over time. The answers will appear by themselves as you go along.

To return to the question I was asked, I feel that Bitcoin is in the beginning stages of a big Bullish wave. However, nothing happens linearly with the price of Bitcoin as you know. We will still have corrections, and you will have to be resilient to take full advantage of what Bitcoin has to offer. If you can do this, you will be among those who will benefit the most from Bitcoin in the future.

Finally, never forget the greatest gift you can give someone with Bitcoin: it’s not to give them BTC directly, but rather to help them improve their education regarding Bitcoin.



Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

New Legislation Proposed in Texas Aims to Eliminate Taxes on Bitcoin Mining

Crypto Firm Socios.com Announces Partnership With Football Star Lionel Messi