Introvert Talks - Reactions To Bitcoin Hitting 100K!

Welcome to Introvert Talks!

"Introvert Talks" is meant to be a new initiative or theme, where I myself as an introvert, just talk about reflections and thoughts about my life, or maybe share more personal stuff. :)

This is my weekly post under this "Introvert Talks" theme and let's see where it takes me and us.

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Firstly, a big congratulations to those who have been in the crypto space and holding tons of BTC through the years! Unless you haven't seen the news, Bitcoin crossed USD 100,000 a couple of hours ago, and this generated quite a lot of media reports and reactions over in various social media.

Personally, I was first exposed to cryptocurrencies in 2017, which was about two cycles ago. Back then, BTC was gaining 1,000 per day went quickly to 10,000. And I remembered seeing this on the Internet and having a laugh about it. I am sure most of us can relate to statements and thoughts like these.

Of course, we all knew what happened. BTC hit 20,000 and crashed shortly after that.

Anyway, I don't plan to make this post a history lesson about BTC. For me, my crypto journey has been mixed in a way. I didn't buy in 2017 because back then, there weren't many avenues to purchase and I think I didn't complete my KYC because I wasn't comfortable giving my ID to some random website.

Because of the hassle, I shelved the idea until in 2019, I came across a local blogger writing about how he managed to purchase Bitcoin on a local exchange. This re-ignited my interest and finally I followed his instructions and used his referral link (of course), and bought BTC for the first time.

Some of you might know, or I might have shared bits and pieces along the way, 2021 came and everything went "to the moon", as what most of the crypto folks like to call it. Being naive, I was bought into the idea of "diamond hands" and hodl-ing, so I held all the way up, and then held all the way down.

I was actually fine hodl-ing because I still believed in the long term use case of cryptocurrencies, and price volatility didn't scare me, but a series of bankruptcies and closure of various exchanges, and watching some friends lose all their tokens, made me decide to exit the cryptocurrency space altogether. At that time, I figured that I should just invest my monies in traditional means, like the stock market, which still provide decent returns on average. Being worried about the survivability of the exchanges was just not worth it. So in 2022, I sold almost everything and my exposure was almost zero. (If you are wondering, I still made profits because the prices at 2022 were still higher than that of 2019, but compared to price peaks in 2021, it was a huge difference.)

Fortunately, at some point, the dust settled and companies stopped failing. I eased my way back in early 2023 and started dollar cost averaging, and here I am! So much have changed since - and people are wondering what is the peak this time, or if "this time is different" and there won't be any crash. I have some personal guesses, but I shall not speculate. Let's enjoy the ride and see what happens?

Anyway, back to today, Bitcoin hit this psychological number USD 100,000. While the number itself doesn't have any significance, it's actually the reactions from the community that generated the buzz. I was scrolling some platforms and reading some stories, and it was generally positive and happy.

One person mentioned that it was a lonely journey for him, because nobody around him believed in Bitcoin and he was the only one enthusiastic about it. I think it's similar in my case as well. Most of the people that I can talk to about crypto are people that I know from Hive, and one or two friends in real life. I guess it's just another indicator that we are still "early"? Lol.

So that's another week of me talking to myself. Let me know how you feel about this whole "Bitcoin reaching 100k hype" too! Thanks for reading!