Narratives Trade Short Term, Fundamentals Trade Long Term

Hey JessInvestors

There's been so much talk about Bitcoin because of the halving and rightly so, its a milestone for BTC, it shows the confidence and belief that this asset has value since it continues on and has not gone to zero. Many who are new to crypto were looking for a 2017 bull run immediately, but for those of us who have been through halvings before, we know that's not the case.

There is plenty of market sentiment; I would feel it at an all-time high with people shaping their narratives about Bitcoin. You can read up all about it or listen to YouTube commentary and get lost in the concepts of why it's going up or down.

Traders are market makers, HODL'rs are market takers

I've spoken many times before about how the price doesn't matter, and I still believe that. These short term prices also mean nothing; those who want to trade narratives are the market makers; they are essential to the economy. Sadly 90% of them lose out too long term HODLrs, but these are the silent majority no one wants to say they day traded and lost.

All you hear is a vocal majority presenting anecdotal evidence of their trades. Yes, someday traders are going to win, but they are by far the minority. The people who got in early didn't care about price swings, they just held it long enough that's what a deflationary asset does, it absorbs time and converts it into value.

Image Source - stockstotrade.com

Battle testing Bitcoin

There is plenty of salt being throwing Bitcoins way in the form of regulation, FUD, bans, laws, countries, companies and financial institutions trying to knock it when its got a smaller market cap than any of the top 20 companies on the S&P 500.

Ask yourself why that is? Why an asset worth a few Billion gets people with money so worked up? If its a bubble and going to zero, the market will reflect it, so why would you care? You'd keep making your fiat and not worry about these savages chasing Satoshis.

Bitcoin has taken this sentiment on the chin each time and continued on its logarithmic course to building its ecosystem and .a new asset class.

Then we also have pressure from altcoins; there are thousands of alts all wanting to take down BTC and become the number 1 crypto asset. They want to break BTC dominance, and we see this every time a new currency is launched.

Bitcoin takes this pressure too, slaps it aside and keeps going. Bitcoin is the honey badger of assets; it knows no fear; it will keep running regardless.

I've never seen something take so many beatings from so many ends and still keep ongoing. It speaks to the reliance of the currency and why it deserves to exist and be part of the new world economic system.

Have your say

What do you good people of STEEM think? Is the Coronavirus splitting people?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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