What would Bitcoin rising to $200,000 mean for ordinary people?

It doesn’t really mean anything, because ordinary people find it hard to ride out an entire market move. Even if you bought in at $40,000, you still wouldn’t be able to hold on when it rose to $60,000.

The biggest trait of ordinary people is that they care too much about the price. Those who really make money from Bitcoin can still make money even if Bitcoin falls to $20,000.

What ordinary people need to do is believe that one Bitcoin is always one Bitcoin. Its price changes every day, but the amount you own doesn’t.

Don’t worry about its price. Only when you can do that can you pass one coin down through three generations—when you’re gone, the coin will still be there!

So why can’t so many people hold on to it?

It’s not because he bought in too high. It’s because he sells as soon as the price rises a little, then gets scared when it drops a little. He’s always being driven by market sentiment.

What ultimately determines whether you come out ahead isn’t your purchase price, but whether you can treat it as a long-term asset and stop checking its price every day.