Down to $4800 as of now. So in about a week I lost $1000. Good week, (does sarcasm come across in writing).
First off, the movie Colors is awesome. If you have not watched it, do yourself a favor and check it out. You will not be disappointed. Robert Duvall and Sean Penn you can’t go wrong.
So what could this movie and Bitcoin have in common? During the movie Robert Duvall’s character tells a story to Sean Penn’s character. It is a teaching moment.
There’s two bulls standing on top of a mountain. The younger one says to the older one: “Hey pop, let’s say we run down there and f**k one of them cows”. The older one says: “No son. Let’s walk down and f**k ’em all”.
Bitcoin has fallen from $20k to $8300. It’s run up to $20k was ridiculously fast, and people want to see that again. They want to make money.
But really we should be looking at it differently.
Let’s say you have $100 and buy Bitcoin at $8300. The next day it goes to $20k, so you doubled your money. That’s awesome.
But with Bitcoin staying at this lower price longer, it is giving you more time to buy it. So instead of just getting to put $100 in, you are able to put $500 in over a period of time around the $8300 price.
Bitcoin jumps to $20k and you have again doubled your money. But instead of only having $200, you now have $1000.
There’s two bulls standing on top of a mountain. The younger one says to the older one: “Hey pop, let’s say we run down there and f**k one of them Bitcoins“. The older one says: “No son. Let’s walk down and f**k ’em all”.
Bitcoin taking its time to get to $20k is letting you f**k all of them.
And because there were no funny pics….