, 2022-10-22 20:00:00,
This is an opinion editorial by Robert Hall, a content creator and small business owner.
The last few months have not been great for the bitcoin price. Bitcoin continues to languish around the $19,000 to $24,000 range with no end in sight. Bear markets are a time when your conviction will be significantly tested. People new to bitcoin may think the economic pain is too much and want to tap out to cut their losses. Others will see the price of bitcoin hanging out in the doldrums and decide not to buy.
The experienced HODLer will see this as a glorious opportunity to buy as much bitcoin as they can because they understand that bitcoin is tremendously undervalued.
My question to anyone considering selling their bitcoin during this bear market is: What are you getting in return?
Exchanging your bitcoin for dollars might seem like a good idea in the short term as the Federal Reserve continues to raise interest rates to combat the inflation it caused in the first place.
You are cutting off your nose to spite your face. The dollar will always depreciate long-term regardless of what the Federal Reserve says or does. A depreciating dollar is a feature for bitcoin, not a bug.
What seems like a better deal for you and your family? Holding an asset poised to multiply by 100 times over the next few decades or something that will lose close to 100% of its value by design?
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