Another month goes by, another salary hits the bank account, another Bitcoin purchase, another ATH (two ATHs actually). BTC was bought at 11655€ / BTC which is the highest price I’ve ever paid (fuck me, THREE ATHs). Stack grew to ~3.78 BTC which is obviously an ATH, like every month has been and every month will be. Fiat worth flew past 40k€ which is the 3rd ATH.
Feels like something is starting to happen. Bitcoin has started to ‘only go up’. It’s been a long 3 years, stacking through the bear market, every now and then watching the price briefly shoot up, only to eventually go back down. But now, it seems like finally the long awaited bull market has arrived. Though for me, truly the new phase will start only after the previous ATH has been broken.
If we look at historical prices, the late November 2013 ATH was broken in early January 2017 – roughly 3 years & 1 month later. If this behaviour was to repeat, the mid December 2017 ATH should be matched late January 2021. Less than 3 months to go then. That is a ridiculously short span of time but still it feels like we might get there even sooner than that. Three months in Bitcoinland feels like forever. This is, among other things, why Bitcoin is life extension 😉 Let’s look at some charts:
BTC amount approaching four with a flattening curve. Fiat amount shooting upwards in a near vertical fashion. It took me quite a while to hit 20k€, still pretty long after that to hit 30k€, quite damn fast to hit 40k€ – interesting times ahead, need to start planning for that 100k party (private of course, no talking about these things in public). I expect the 3 year period of 2018 – 2020 to quite soon look like a flat little alley, just like the Bitcoin price charts always look. Next chart:
The bars represent monthly Bitcoin purchases. I’m officially on green with every single BTC purchase so far. January 2018 was the previous highest price I paid and that was around 11300€ / BTC. On average, I’m up ~95% on every purchase and I have made slightly more than 100% with the total amount of money put in (the difference comes from two good months where I was able to use more than 500€). Pierre Rochard has described Bitcoin as ‘savings technology’ and I think he is correct.
We can compare Bitcoin to ancient savings technology that is the S&P500:
I might need to rethink this chart for next months post because it gives the S&P (blue) too much slack. You can basically see the hypothetical fiat amount had I bought the S&P with my monthly purchases instead of Bitcoin. Sure we can see from this chart that Bitcoin has been the better bet. But not the magnitude. S&P would have given me a measly return of 15.5% so far for the money put in. Bitcoin has given me 112%. Which means that my Bitcoin investment strategy has given me 625% better return than the S&P would have.
Superior savings tech.
Something (obvious) I thought today: The amount of coins mined during the previous epoch (2016 – 2020) was so much that the same amount will not be mined during the rest of human race existence. Same applies to the epoch we are living right now (2020 – 2024) and to every epoch afterwards. We are constantly living through an opportunity that will not happen again in anyones lifetime. It’s impossible to be ‘too late’. We are constantly front running the future.
If you haven’t already, start stacking them sats. You know you want to. It’s never too late – we are always early – compared to the epochs that will follow and the people who will join.
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