Buy low, sell high. Yeah, that's simple and has served people well during the previous bull runs. But what if it's different this time.
Consider Venezuela, for example. Over the last several years, it's a mistake to have traded in your bitcoin for bolivars. Yes, you would have realized many more bolivars than before but so what if the value of bolivars keeps falling.
The US is at 22 trillion debt and I just saw Alan Greenspan explain that they'll just keep printing money to get out of debt. You mean like Venezuela does? Like Zimbabwe has? Like every other government around the world that's rekt because of it?
When Tim Draper was asked when will he sell his bitcoin, he responded by rhetorically asking "sell it for what?" His point is the same I'm making here. If the Dollar tanks, it's still not a great deal to have a million of them just like people don't care about a million bolivars now.
The IMF and other institutions have been wearing it more openly on their sleeve recently that the world economy has an overdue appointment with hard times. The worst of times some people say when comparing how over leveraged we are to previous times.
So, when the next bull run happens, is bailing back to the US Dollar the right play again or will people agree in hindsight that bitcoin is the new, real money and we should not have traded it away for fiat again?
submitted by /u/cooriah
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Source and link to Reddit topic: I can’t decide how to respond to the next bull run.
Author: Reddit.com
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