Why Bitcoin keeps going up (even when it doesn’t)

Kash here.

Let’s talk about Bitcoin…

Did you see it rally up to $58,000 the other day…

Only to crash back down to $51,000?

That $7,000 drop looks pretty nasty…

And I feel sorry for anyone who bought at the top and panic sold at the bottom.

But I also have some advice…

Stop staring at the trees.

Because that’s exactly what worrying about Bitcoin’s day to day price movements is like… standing right up against a tree and worrying about a tiny patch of its bark.

Instead, you want to zoom out so you can see the woods.

And the woods look good…

The only bitcoin chart you ever need to look at

Take a look at this Bitcoin chart…

It’s the only one you ever need to look at if you’re interested in the long-term potential of this Big Daddy Crypto…

It looks like a rainbow having a heart attack, doesn’t it?

But the colours aren’t just for show…

It shows how the Bitcoin price is essentially “programmed” to keep going up.

See the main rainbow line?

That’s Bitcoin’s price.

Now, see the purple and blue lines behind it… going up like steps all the way to the top right hand corner of the chart?

Those lines represent the max supply of bitcoins.

The higher those lines go the more the supply reduces… until one day all 21 million bitcoins have been mined.

And then… there will be no more new bitcoins…

This process is known in the crypto world as the “the halvening”

It’s a bit of a silly name…

But, so far,  the halvening has predicted the long-term price movements of Bitcoin like a time-travelling Mystic Meg.

In fact, it almost looks like the Bitcoin price is chasing the halvening line on that chart.

But it’s not by chance… it’s more by design…

Every 4 years Bitcoin is programmed to halve the rate it can be mined at, instantly making it scarcer overnight.

And I’d say it’s pretty obvious that the rarer something is, the more it’s price has the potential to increase… especially if it’s already worth $50,000+ today.

So, that’s why I say take your eyes off the trees and look at the woods instead.

Bitcoin sure looks good from up here, doesn’t it?

As always, if you have any questions about Bitcoin or cryptos in general please hit us up at clients@thebetchat.com.

Thank you for taking the time to read this.

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