I purchased 1 bitcoin back in 2020 , sold it today. Why now?
Bitcoin was the one optimistic asset in my portfolio that I had the strength to hang in there.
But I do expect a market correction (been since August?) and bitcoin is now held by institutional investors. I believe these entities are more likely to sell than the traditional buy and holders like myself. Bitcoin holders since the coin's inception have been selling. I suspect they believe the same thing I do.
In an asset crunch, people sell assets to cover their margin calls. Bitcoin I think will be impacted materially. This is the one place Gold does have an advantage, it takes more than a click to sell your gold "collection".
I am still in the game! Sure $125K would have been better, but like I said, having a bearish tilt on the USD global financial order, Bitcoin was (is) my long term hope.
I do still believe Bitcoin will hit $1M, even $10M a coin, who knows on what timeline. I do think once the USA over-reacts to this bear run in US markets, Bitcoin is the first place to invest.
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