Is it too late to buy bitcoin? ⏰
💡 Daily Reminder: Stay humble, stack sats
Bitcoiners,
Every bitcoin cycle brings in a new group of skeptics that believe it is too late to buy bitcoin.
By purely looking at price action, bitcoin skeptics claim that it topped out and is never coming back toward all-time highs. This myth exists because newbies are uneducated on the underlying fundamentals driving prices upwards (or downwards). Even back in 2013, bitcoin skeptics declared bitcoin as a "bubble" or "Ponzi scheme" after the price dropped considerably.
It is NOT too late to buy bitcoin because bitcoin's fundamentals are stronger than ever and it takes some education to realize that for yourself.
Bitcoin is NOT a bubble
Bitcoin has seen 5 major "bubble" events since 2011 and has blown past previous highs each time.
For instance, from 2017-2018, the bitcoin price went from nearly $20,000 down to $3,000. This is around the time I started personally buying bitcoin. Many respected analysts and experts in the economics and finance space dismissed bitcoin as a bubble from 2018-2020. I personally ignored these expert opinions and continued to buy at relatively cheap prices in the bear market because I began educating myself on the fundamentals.
My decision to ignore "experts" that clearly did not have a fundamental understanding of bitcoin paid off BIG as the price ran up to $69,000 in 2021.
Decide for yourself
If you want to understand if it's too late to invest in bitcoin, you need to put in the work yourself and stop listening to "experts".
The first step you need to take is self-education or else someone will do the thinking for you.
Here's what I would do if I was new to bitcoin and deciding whether or not to invest in the asset:
Tip #1: Tune out the noise. Lots of famous people on social media love to voice their opinion about the price of bitcoin. Ignore them.
Tip #2: Educate yourself. Bitcoin is much more than the price it is trading on any given day. Spend 10 hours learning about the technology.
Tip #3: Buy a small amount. Buy $10 worth of bitcoin today and send it to a wallet that you own. I guarantee your next purchase will be even higher.
Listening to "experts" that are uneducated about bitcoin will lead you to believe that bitcoin is a bubble and not worth your time.
Following the steps above will help you gain conviction in the asset and help you ultimately realize it is NOT too late to buy bitcoin.
Happy Thursday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
