I think we've all felt worried at some point when Bitcoin has taken a big drop in price. Is it going to bounce back like it has in the past? Is Bitcoin still healthy? Is this really where I should keep my money for future financial freedom? I still feel worried when Bitcoin drops even though this is my fourth cycle. I mainly worry for people who I’ve gotten to buy Bitcoin. I want them to stick it out so that they get the great long term growth Bitcoin will give them. What would you tell a friend who is panicking and wants to sell their Bitcoin?
Yesterday we shared what are long term plans for using our Bitcoin. Today I want to ask how long you think it will take you to achieve your goal or goals. How long do you plan to hodl your Bitcoin until you start to use it?
Time to have some fun before heading into the weekend. Today's challenge is to identify Bitcoin's spirit animal so that we can channel it here in First Step Bitcoin. If Bitcoin were an animal, what would it be and why?
A polar bear. Months of hibernation every year to symbolize dips or even market price at rest. When it attacks, violent upheaval similar to when BTC hits new ATH…🤔🤷♂️🤣
When you set up a bitcoin-only wallet for storing your bitcoin you will get a recovery phrase. A recovery phrase is a series of 12 to 24 words that when entered into a bitcoin wallet creates the private keys to access an address on the bitcoin network. This is like the login to your bank account. Storing it safely and making sure that it works are the most important things you need to do to keep your bitcoin safe. What do you do to keep your recovery phrase safe?
Right now it looks like we are at the beginning of a classic bitcoin Uptober Bitcoin hit a new all-time high price today at $126K But what if Bitcoin dropped to $64K or less by Christmas? How would you feel? What would you do? What would you be telling yourself?