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October 13, 2021, 11:12:48 AM |
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I think some are missing the point of the HODL@100 movement.
Yes, obviously BTC will eventually reach 100, and well beyond, over time.
However, its in the interests of all who have current allocations to BTC to get to 100 sooner, rather than later (expect of course if we are planning to stack sats over time on the way up).
No one is saying we immediately sell @ 100, And indeed for many of those "taking gains", there will be a whole bunch of new investors who move in around all the "Price 100K" media publicity (and broadening investor base is always good).
The aim really is to get to 100K fast, and maintain this, not just as a new ATH, but an eventual base support level. Its a bit like the 4 minute mile. Seemed almost impossible, and suddenly once it gets accomplished it becomes the norm. I am sure as we approach 100 we will get a bit of volatility as some try to front run a perceived sell off prior to 100. So, we will probably see a but of jumpiness around 93-97 ish range, and a few 99.8 type "almost hit" spikes, before an eventual blast through to 103ish. The point is to get the ATH, and then to eventually accumulate around it.
Why 100? There is not necessarily a mathematical reason for this, at least in the short term, but its really a round number phenomenon that the human mind (and main stream media) can easily connect with. Eventually we will need to convert over to price of Sats as opposed to BTC, but that's another issue.
As for those who don't understand how a collective hodl can help accomplish 100K faster, and those who ask "but if no trading is done how can the price go up", it never ceases to amaze me how many supposedly smart people still get confused on basic economic concepts. Again, if supply is reduced, and demand remains the same (or increases), price will rise. Very very simple. And indeed, one reason why the "amount on exchanges vs in cold storage" is a metric many look at in determining future price.
Despite what we like to think, the evidence confirms that most "traders" over time, will lose money. If you think you can reliably make money "trading", whether FX or crypto, you are almost certainly kidding yourself (perhaps 1-2% of all people are the exception).
So, I am a strong supporter of HODL@100. Simply HODL, and make it clear to all - "I WILL NOT SELL UNTIL 100K". United we HODL and the more united we are, the faster we see 100K per coin.
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