Bitcoin Price Volatility Continues as It Trades Near $110,000
Bitcoin's price fluctuated significantly, peaking at $111,800 on May 23 and dropping to $109,600. As of now, it trades around $109,770. Despite volatility, some investors are focusing on long-term trends.
Frustration and Patience
- Thomas Fahrer, co-founder of Apollo, noted that holding Bitcoin can be frustrating 90% of the time but rewards patience.
- He presented a historical chart showing Bitcoin's upward trend over the years.
- Key moments included drops to around $212 in 2015, $5,000 in 2020, and $16,000 in 2022.
Holding Bitcoin means getting rich while feeling frustrated 90% of the time.
Deflationary money - designed to increase in value - forever.
Deflationary Design
- Bitcoin has a hard cap of 21 million coins, contrasting with inflationary currencies like the US dollar.
- The halving process reduces new coin creation every four years, limiting supply growth.
- This design challenges traditional views on currency value.
Investment Comparisons
- An investor showed that $100 in cash would lose buying power to $76 from 2020 to 2025, while the same amount in Bitcoin could grow to $1,201.
- This highlights the advantages of Bitcoin against inflation.
Once you see it, you can’t unsee it. #Bitcoin
No Need for Whole Coins
- Robert Kiyosaki emphasized that owning even 0.01 BTC can be beneficial as Bitcoin may continue to appreciate.
- He noted Bitcoin's potential to build wealth without reliance on gold, appealing to younger investors.
- Despite market unpredictability, Bitcoin's long-term trend remains intact.
Overall, the sentiment reflects that while Bitcoin tests patience, its historical performance supports a continued positive outlook.