I know it sucks, but now’s the time to keep buying

According to Glassnode, a blockchain analyst, there are now 851,921 Bitcoin addresses holding at least 1 Bitcoin, a new all-time high. They say this is “despite a $27k retest” but that sounds wrong. It isn’t ‘despite‘ the retest, it is because of it.

At the time of writing, as the Glassnode points out, if you hold 1 BTC and 1 ETH, you’ve got access to around $28,000-$29,000, whereas just a few months ago, back in November 2021, ownership of 1 BTC and 1 ETH would’ve meant having access to around $75,000.

With a budget of $2,000, you can now buy 1 ETH plus change. Whereas back in November-December 2021, you’d have gotten about ETH 0.50.

Everyone wants to beat the market but very few people can and part of the reason is the market is psychologically difficult to follow. We tend to buy when the price is going up, and we get scared and sell when the market goes down. That’s bad, of course, but it is also understandable.

These days I feel like hiding under my bed and crying but I know the market will rebound, eventually, and that’s why I keep buying. And crying. Pah.

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