107 Days and Counting

As I write this, there have been 107 days since Bitcoin reached its all-time high price of around $73,800. Since that happened, Bitcoin has ranged mostly between $60,000 to $70,000 but has dipped as low as $56,555 and has even flirted with $72,000 but has yet to pass it.

107 days and the perspective you view this time period will shape your perspective on not only Bitcoin but also life itself.

If you are zoomed in and have short-term aspirations:

Every day of price consolidation or price volatility is agonizing for you.

Every day you step on the scale and don’t see a change, you become more disheartened.

Every day you don’t see visible improvement in a skill, you doubt the end goal.

Short-term aspirations are the wrong aspirations to have in Bitcoin—and can be equally as misleading in life.

The longer your timeframe, the more you win. Trust your processes, and keep working to achieve. Day-to-day you may not see results, but the more you zoom out, the clearer the effects of sticking to a plan and compounded time are.

Just in the last year, Bitcoin is up over 100%. But if you only looked at the last 107 days, you would see it has fallen around 20%. Now imagine what could happen if you stop worrying in the short term and only focus on the long term—years from now.

Bringing traditional markets into this conversation, you win in the markets by how long you are in the markets. Time compounds in ways that make anyone a winner as long as they continue to play the game.

The graph above shows that if you had invested $10,000 in the S&P 500 in the year 1950, it would be worth over $10 million today regardless of all of the macroeconomic and world events that made investing seem scary.

Time in the market wins. Zoom out.

The same effect happens in life.

Think of training for six months for a race. In months two and three you may not have seen much progress on a daily basis but it is almost guaranteed that where you are after six months of training is leaps further than where you were when you started. If you had hyper-focused on the daily grind, you may have been disheartened by your “lack of progress.” The daily wins, the daily process, and the daily effort all matter and help contribute to the impact of compounding.

Think of a habit you have picked up. When you started you lacked skill and ability compared to where you are now after hours of effort and focus. But if you quit at the beginning after the first moment of challenge, you would have never learned and grown to be where you are now.

Achieving and growing in life, in anything, takes time.

107 days of not reaching an all-time high is nothing in the grand scheme of your life. Bitcoin is not meant to be a short-term investment. It is meant to be an investment that will change the course of your future. The longer your timeframe for defining when that “future” is, the more power and impact I believe Bitcoin will have on changing it.

Bitcoin has consolidated around its previous all-time high for nearly four months at this point, the longest such stretch in Bitcoin’s history. Eventually, this consolidation will stop. If anything, this period of 107 days has given everyone the opportunity to continue practicing the habit of long-term planning by letting everyone buy more Bitcoin for every dollar while also forcing everyone to realize that investments are not instantaneous.

Time wins in the end.

Commit to the journey and enjoy the process.

I find it fitting that this post will be sent out on June 29th, 2 days before July 1st, the start of the 7th month of the year, begins. There are still six full months to go in the year 2024. So much is possible. Every day, every hour, and every minute is another opportunity for you to take a step in the direction you want your life to go. Once you take that step, the next step brings the domino effect of reinforcement.

Step.

Reinforce.

Step again.

Reinforce again.

See what is possible over the next six months of your life.

Bitcoin will do the same.

Compounded effort over long periods of time makes winners and achievers of us all.

Stack SATs.

The views and opinions expressed here are for entertainment purposes only and should, in no way, be interpreted as financial or investment advice. Always conduct your own research when making an investment or trading decision, as each such move involves risk. The team members behind Triana are not financial advisors and do not claim to be qualified to convey information or advice that a registered financial advisor would convey to clients as guidance. Nothing contained in this e-mail/article constitutes, or shall be construed as, an offering of financial instruments, investment advice, or recommendations of an investment strategy. If you are seeking financial advice, find a professional who is right for you.