10 Things You Need To Know About Bitcoin #7: Bitcoin For The Long Term | 022

Dan and Trent break down the importance of a long-term mindset in Bitcoin.Bitcoin price can be volatile over the short term, but over time the volatility is to the upsideIn past 13 years, Bitcoin has been by far the best performing asset class in 10 of the years, and in the other 3 it was the worst See chartIn previous cycles the halving has kicked off a massive bull run.  Prices goes up a lot, but then corrects - each time to a much higher low.  The floor keeps risingHalving cycles.  Price at halving keep risingSee chartBig majority of Bitcoin held by strong hands with no intention of selling.  The number of liquid coins is very low.   This also drives large price movesIt all gets back to time preference and long term thinkingSo many people want get rich quick, to take a short cut, not a long term commitmentBitcoin is proof of work - and what you put into learning Bitcoin you will get so much more in returnBuilding anything of lasting value takes time and work - always has beenToday’s song: Good Times Bad Times by Led Zeppelin