Stop listening to bitcoin price predictions
Not too long ago, a very respected man in the crypto space stated that bitcoin will be worth $250,000 by 2022. You know what? I don’t care! And you shouldn’t. There are a number of reasons why you shouldn’t. Let’s take those reasons one after the other:
1. Predictions can be wrong
This is like the first thing everyone should know about predictions. Just because an important person said it doesn’t make it stand. Just because you agree with what the man and everything else he stands for doesn’t mean his predictions has to come through. This is important because if you believe those things, they will make you take wrong steps in preparation for the future. Emotions of excitement are not assets when it comes to money matters. If you want to assume, what bitcoin will be in 2022 or any other future year, consider all possible scenarios.
2. Listening to predictions makes you a speculator
The thing about speculators is that speculators get fried. Speculators are bad investors. They make awful traders also. Yes, they might make a lot of money in the short term but they have no preparation in case things go sour. Speculators lose money. If you are going to make decisions based on what someone predicted about the price of bitcoin, then you are not being wise. Incidentally, if you listen and keep listening to those predictions, it conditions your mind unconsciously into becoming a speculator. You find yourself obsessed and emotional into making a decision that is not well thought through.
3. Listening to predictions makes you an onlooker
If bitcoin is going to get to $250,000 by 2022, it’s going to take some serious work from everybody involved in the crypto space. Listening to those predictions make it seem like bitcoin will just get there all by itself. And it is not going to get there by itself. The adoption has to grow, crypto projects needs to thrive, more talents need to get into blockchain, government needs to be friendly to the invention, etc. All these things will not happen by itself, people need to work it out. If bitcoin ever gets to $250,000 just know that some people are responsible. If you are part of those people, price prediction will not appeal to you. And if price prediction appeals to you, then you are not being one of those people.
4. Price prediction gives you nothing for today, only false hope
Bitcoin price is going to be $250,000 by 2022! Okay, so what has that given you today? I mean, if you are broke today, you are still broke! If you buy bitcoin because of that today and the need arises tomorrow, you have to sell! Who says you will hold for that long? You can’t accurately predict the circumstances of your own life! Why swallow a false hope that cannot do anything for you in the present and has a substantial chance of not coming to pass in the future. Remember, bitcoin price will not be flat throughout 2022. What if the price hits $220,500 in January 2022 and then becomes $15,000 by April 2022. Be wise for your own life!
5. Listening to price prediction makes you think in one direction
There are people who think their only chance to be rich is if they buy bitcoin now and sell at an insane price in the future. The problem price prediction creates in your mind is that your mind will be on that insane future price and you will be cut off from the reality and opportunities around you. There are a lot of ways to grow wealthy. You’d be surprised the things that are close to you (especially through the Internet). But if you keep listening to bitcoin price prediction, your mind will be locked up to other things and you will keep anticipating this uncertain event (in time). Why don’t you do yourself a favour and break free from the mental prison. Don’t let bitcoin price prediction make you miss the numerous other financial opportunities in the world. Stay away from assumptions and predictions; open your eyes!
I know you may not have a choice as information freely flows in your direction. But you can decide what you pay attention to. Whenever you hear those predictions about bitcoin price just shove it off. It is not important. Plan your financial and investing life. And follow your plan. Don’t let speculation and assumption make you decide what to do. What you need to make a decision concerning bitcoin (and other cryptos) is the past price and the present price. You don’t need the future price. If you are after the future price, greed is already besetting you. This also means that you have gone into gambling.
Be wise. Cheers!