The last few months have not been great for Bitcoin price. Bitcoin continues to weaken in the $19,000 to $24,000 range with no end in sight. Bear markets are a time when your faith is significantly tested. People who are new to Bitcoin may think the economic pain is too much and want to sell to reduce their losses. However, analyst Robert Hall points to the difference between the dollar and Bitcoin, making investors think about selling. Here are the details…
Should you sell your Bitcoin investment?
According to Hall, experienced HODLers understand that in the current situation, Bitcoin is extremely undervalued. Therefore, they get the opportunity to buy BTC at lows. Hall also admits that exchanging your Bitcoin for dollars seems like a good idea in the short term, as the Federal Reserve continues to raise interest rates to combat inflation. The entire world is in the midst of a financial disaster unlike anything most living have ever seen. So, is it time to sell Bitcoin in the middle of a bear market? Robert Hall implies that no sale should be made. Hall uses the following expressions:
No matter what the Fed says or does, the dollar always loses value in the long run. Dollar depreciation is a feature for Bitcoin, not a bug. What seems like a better deal for you and your family? Holding an asset that is ready to increase 100 times in the next ten years? Or holding an asset that will lose close to 100 percent of its value by design?
Will the dollar fall?
No one knows how long the US dollar can continue to be the world’s reserve currency. But one thing is certain, according to Hall: The dollar’s days are numbered. According to Hall, “Politicians on both sides of the aisle abused the extraordinary role of the United States in the global economic system to print money that each country uses for trade.” It also uses the following expressions:
The US is at the start of a debt spiral that will end as the dollar has become as worthless as other fiat currencies in the past. It may take five, 10 or 15 years for people to completely lose faith in the dollar, but they are starting to lose it and it will peak in our lifetime. The Democratic and Republican parties are unwilling to relax their debt-directing authorization programs for fear of being impeached before they ruin the government’s balance sheet.
Also, Hall says you can accumulate a significant amount of Bitcoin in this bear market. “If you have free cash flow, putting some of it in Bitcoin will keep your wealth protected,” he says. Finally, “Bitcoin restores order in a chaotic world. It empowers the world to do positive things for humanity,” he adds.
