Bitcoin Bottom Doesn’t Matter, Last Time General Population Can Afford Entire BTC

Tony "The Bull" Severino

6 years ago

3 mins read

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Bitcoin (BTC) has been pitched as peer-to-peer electronic cash, a store of value, a disruptor of traditional financial instruments, and a way to free the world from the shackles of the government’s control over current fiat monetary system.

Given its potential to change the world as we know it, much like the Internet did over the last two decades, does finding Bitcoin’s bottom really matter? According to some crypto analysts, the bottom doesn’t matter at all, and the current low prices could present the last opportunity for the general population to purchase an entire BTC.

Crypto Analyst: Catching Bitcoin Bottom Doesn’t Matter

Crypto investors everywhere are paying extra close attention to charts, market sentiment, and more, hoping to perfectly catch the “bottom” of the current bear market. However, given Bitcoin’s considerable potential and how rapidly the price does rise during a bull run, timing the bottom really doesn’t matter, and could cause investors to miss out on current prices.

Popular crypto analyst CryptoMento puts little weight into timing the bottom and offered up some price figures that put his comments into perspective.

LET’S JUST SAY$BTC Bottom = $2,000$BTC by 2025 = $100,000#BTC Current Price = $3,600

Does it really matter if you catch the bottom?

— 🎴 MΞNTO (@CryptoMento) February 9, 2019

Bitcoin is currently trading at around $3,600 after a powerful bounce near the 200-week moving average and a breakout of a falling wedge formation, but the most recent bottom is around $3,150. Even at the current price $3,600, should Bitcoin fall to $2,000 as noted in the analyst’s example, if it does eventually reach prices of $100,000 or more as many believe, the difference between buying now and later will be a mere $1,600 of lost profit.

If Bitcoin should rapidly rebound from here, not buying at the current prices could prove to be far more costly.

It’s also worth noting that when Bitcoin reached its all-time high price of $20,000, crypto community members everywhere spoke of the regret they felt not buying into BTC a lot cheaper. Now that they’ve got the chance to do so, the current fear-driven market sentiment is preventing the from stomaching the risk. However, now might be the last time the general public can afford to own an entire BTC.

Crypto Investor: Last Time The Public Can Afford to Buy An Entire BTC

Another common complaint by crypto investors around Bitcoin’s peak, and part of why investors flocked to altcoins in a big way, was due to many investors being unable to afford a full BTC at $10,000 or more.

Fiat currencies have trained people to feel more comfortable with whole numbers. Change is often thrown away, or donated as a tip due to this. It’s also the reason why owning 0.01 BTC is far less appealing than say owning 1,000 XRP, regardless of perceived value.

At the current prices, Bitcoin is affordable for the general public interested in owning a full coin. But it may be their last chance, according to crypto trader, investor, and advisor Josh Rager.

https://twitter.com/Josh_Rager/status/1095063870232817665

Rager shared a chart via Twitter that demonstrated the path Bitcoin’s price may take next. “After 2021” he suggests, Bitcoin “could” move to a price where the average person will likely only be able to afford to own a fraction of the cryptocurrency.

Should Bitcoin achieve the price that Rager believes in the coming years, timing that Bitcoin bottom really doesn’t matter, and the general population should buy Bitcoin at the current prices, or risk never again being able to afford an entire BTC.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.