Bitcoin Breaks $100,000 Milestone, How Can Ordinary Investors Hold Long-Term?

Today, Bitcoin officially broke through the 100,000-dollar mark, marking a milestone moment worth celebrating. Looking back to January 2018, I wrote an article about surviving a bear market. At that time, I boldly predicted: "It is only a matter of time before a Bitcoin rises to 50,000 dollars. Since I am confident that Bitcoin will rise to 50,000 dollars, all actions now should aim to increase the number of Bitcoins."

At that time, the price of Bitcoin was around 11,000 dollars, and this prediction was met with a lot of ridicule in the comments section. However, as Bitcoin broke through 20,000, 30,000, and 40,000 dollars, up to today's 100,000 dollars, that initial comment has become a famous "attraction" for netizens to check in and mock.

As a generation that has experienced the development of Bitcoin, seeing such internet anecdotes paired with Bitcoin's astonishing performance is naturally quite moving.

When it comes to long-term holding of Bitcoin, many people have seen a famous comparison chart: the ideal "HODL" is a smooth upward curve, while the reality of "HODL" is a curve with severe fluctuations. Some even believe that the reality of "HODL" should be a curve with even more ups and downs.

In fact, this comparison chart has a third image that very few people know about, which resonates with me the most: in reality, "HODL" not only involves experiencing the ups and downs of emotions and prices, but also facing external doubts and ridicule.

So, is it really that simple to hold Bitcoin for the long term? Why are there still so many people who haven't been able to stick with it?

If it were me in 2018, I might have answered without hesitation: Yes, holding Bitcoin for the long term is simple; you just need to do one thing: store your Bitcoin in a cold wallet. But after 7 years in the industry, my answer has gained a deeper understanding.

In fact, to truly hold Bitcoin for the long term, you need to do three things:

1. Deposit Bitcoin into a cold wallet
2. Regularly reinforce your belief in Bitcoin
3. Live well

The first point goes without saying; everyone understands it. The second point is worth discussing in detail. I am very grateful to those who spread the ideas of Bitcoin. Because belief tends to weaken over time and needs to be regularly replenished. Otherwise, you may very well lose your Bitcoin amidst the market's ups and downs. No one can establish an unshakable belief solely based on willpower; even the most staunch Bitcoin supporters have sold some during low points.

The most terrifying aspect of the cryptocurrency industry is that it always presents the ugliest side to the world. You will see scammers, clowns, and speculators taking turns to appear; you will witness the rise and fall of various scams and Ponzi schemes. From large venture capital projects to small community scams, this path is filled with thorns. It is normal to feel disappointed in this industry, and if one can still maintain enthusiasm, it is rather suspicious. Therefore, we need to regularly replenish our faith in Bitcoin.

Next, let's review the process of this round of Bitcoin's rise. It was not achieved overnight, but rather advanced step by step like a multi-stage rocket.

From the bottom of $16,000 to the current $101,600, there are mainly three driving forces:

Phase One (16000-30000 USD ): Mainly driven by Grayscale's continued purchases of Bitcoin and achieving a key victory in the lawsuit against the SEC.

The second phase (30000-60000 USD ): The launch of the ETF, especially by traditional financial institutions like BlackRock and Fidelity, brings a large number of users and funds.

The third phase (60000-100000 USD ): The firm belief of MicroStrategy to purchase Bitcoin through bond issuance and stock sales has overcome various psychological and technical pressures.

There may be a fourth stage to come, perhaps the most powerful level: considering that the new government may be more friendly towards cryptocurrencies, the proposal for a strategic reserve of Bitcoin in the United States is very likely to become a reality. With the United States leading the way, other countries may follow suit, and Bitcoin is expected to truly become the global "electronic gold."

The biggest characteristic of Bitcoin is that it does not change, which is similar to the nature of gold. Whether it is ancient gold artifacts or the modern Bitcoin network, its essence remains unchanged. This predictability brings reliability, allowing Bitcoin to transcend time. You may find it hard to trust a project that could run away at any moment, difficult to believe in a protocol that frequently changes its course, and even harder to determine whether an entrepreneur will change their mind years later. But you can easily predict what the Bitcoin network will look like in the next 10 or 20 years - it will remain unchanged, just like gold. This is why countries might consider Bitcoin as a national strategic reserve.

Many people enter this industry to "turn their fortunes around" and may ask: How much further can Bitcoin rise? To be honest, no one can provide an accurate prediction. This is exactly the third point I want to emphasize: live well.

Another characteristic of this industry is that it is good at showcasing its most luxurious side. You will see some people easily making millions of dollars, some announcing their exit from the circle, and some traveling around the world... Of course, there are also the exchange owners living lavishly in Singapore and Dubai. But among this information, 75% is false, 20% is exaggerated, and only 5% are real wealthy individuals.

These provocative messages will stimulate people's dissatisfaction and anger. Recently, an account with a gorilla avatar claimed to have invested $5 million in XRP, attracting countless envious responses. But it was later revealed to be just a virtual transaction aimed at scamming people into paying fees. Just think about it, when you face a fake screenshot, silently cry and blame yourself for being cowardly, and then retaliate by opening a huge leveraged position, how ironic that is.

The key to holding Bitcoin for the long term is to learn to live well. Here are some suggestions:

1. Frequently write down your thoughts.
2. Accepting the fact that others may earn more than oneself.
3. Focus on the present
4. Pay attention to a healthy diet
5. Set realistic and achievable goals
6. Challenge Negative Thinking
7. Ensure adequate sleep
8. Cultivate Positive Self-Talk
9. Practice Gratitude
10. Help others

Only by living well can you truly hold Bitcoin for the long term. Otherwise, if you fall into some emotional traps carefully designed by project parties and start fantasizing about getting rich quickly with aggressive strategies, the result is often that your Bitcoin will eventually end up in the hands of those project parties.

Over the years, I roughly estimate that about 95% of people’s Bitcoin holdings are gradually decreasing. Only less than 5% of people are able to increase their holdings against the trend, and none of them are anything but extremely lucky individuals.

Do you remember that saying? "When you first heard about Bitcoin, it was often the time when you could own the most Bitcoin."

Let's revisit the three key points of holding Bitcoin for the long term:

1. Deposit Bitcoin into a cold wallet
2. Regularly replenish your faith in Bitcoin
3. Live well

Time flies, and in the blink of an eye, 7 years have passed, with Bitcoin rising 10 times against the dollar. However, the equation 1 BTC = 1 BTC still holds true. It has been so in the past, and it will be so in the future. Please hold onto your Bitcoin, and do not wait until Bitcoin actually rises to 1 million dollars to realize this.