A Bitcoin investor has waited less than 200 days to double their money during any period since 2011, new data reports.
Double, Not Quits, In Under 200 Days
Uploading a chart showing how often investors gained 50% and 100% on their investment into BTC, a social media cryptocurrency commentator calculated a median value of 189 days for funds to increase twofold.
The figures make interesting reading as both Bitcoin and altcoin prices continue to fall towards $6500 March 30, having extended losses which began back in December.
While some sources, especially those of the mainstream press, claim weakness in Bitcoin has little chance of dissipating, industry figures continue to remind investors of the importance of the long-term perspective.
In a Twitter post of his own March 29, developer Jimmy Song recapped what he described as the “benefits” of interacting with Bitcoin over long periods as opposed to shorting and other profit-driven motives.
Contrasts focused on an oft-repeated sense of financial independence versus the ‘get-rich-quick’ mentality often ascribed to opportunist traders by cryptocurrency enthusiasts:
Benefits of having a long time preference:
less anxiety/more achievement
less impulsiveness/more discipline
less slavery/more freedom
less fragility/more strength
less destruction/more creation
— Jimmy Song (@jimmysong) March 29, 2018
How About A Parabullic $340,000?
While Bitcoinist recently reported on others expecting a Bitcoin price reversal as soon as next month, new forecasts from online community members paint an altogether more radical future.
One chart, reminiscent of the parabolic trend for BTC, eyes prices contracting to just $3000 in April, transforming afterward to hit an enormous $340,000 in April 2019.
Perhaps unsurprisingly, the chart is meeting with mixed reviews from Twitter users, despite its uploader acknowledging its limitations.
— RideTheLightning⚡️ (@MediumSqueeze) March 30, 2018
What do you think about Bitcoin holding price charts? Let us know in the comments below!
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