$100,000 Bitcoin: A Celebration for Some, a Trap for Others? ????

Yesterday, Bitcoin passed the symbolic and historic $100,000 mark. And many people popped the champagne ??.

Many newbies will also be influenced by what they hear in the media, because the news has spread like wildfire. Some will take action and buy their first cryptos. They'll even watch the price several times a day in the hope of becoming a millionaire...

But as the trees never reach the sky, the first time the corner or the token falls, many will panic. Especially since in the world of cryptos, falls can be very rapid and very sharp. The price can also go sideways (i.e. hardly move at all) for weeks or months on end. And then it's too much for the nerves of the weakest minds! They sell at a loss and swear they'll never be seen again!

The only problem for these weak hands is that Bitcoin, for example (but it's not the only crypto in this case), has only gone up over time. That's not to say that this will always be the case (no one has a crystal ball), but for the moment it is.

The market is cruel to the weak. Euphoric for others. But you should know that the strong hands always come out on top.

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?? Join me tomorrow for my post ‘Weak hands in crypto: the costly mistake (and how to avoid it)’.

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Disclaimer: I am posting in a personal capacity. My statements do not commit any organization or company. This is not investment advice. Do your own research.