BITCOIN CAN NOT ONLY TRIPLE IN A FEW MONTHS, BUT COME DOWN 80% IN A FEW HOURS!

I just want to remind those who might have forgotten because of the price spike: bitcoin can fall as fast as it grows. For example, in April 2013, it collapsed 5 times: from 269 to 51 dollars.

Reasons:

1) the rapid rise of the price from 13 to 266 dollars was supposed to end with a correction

2) MtGox, the largest crypto exchange at the time, collapsed

3) Fear and panic due to the collapse of MTgox provoked a selling snowball

Despite this, Bitcoin did not die, but even recovered and grew to 1000 dollars by the end of 2013.

This crash taught me many things, including the following:

- Volatility is the price of crypto market opportunities.

- Do not blindly trust centralized exchanges.

- Safety matters.

- Stability, confidence and patience win in cryptocurrency

Can this happen again now?

Naturally This happened more than once: in 2018, when Bitcoin fell from 6 to 3 thousand dollars. In 2020, when the coronavirus collapsed the course from almost 11 thousand to 3 thousand...

If this happens now, when Bitcoin is worth $100,000, we may even see $20,000 per coin.

This requires a black swan. For example, Blackrock or Microstrategy will take and sell their coins, and against this background, after the inauguration, Trump will say: "yes, I joked about the Bitcoin reserve."

Despite the fact that the capitalization of Bitcoin has exceeded 2 trillion dollars, the cryptocurrency itself remains unstable. Markets can still fall, and black swans will ripen around...

But today the market infrastructure is stronger, and traders/investors have become wiser.

You can protect yourself by following the rules:

- Distribution of risk across exchanges (do not store all funds on ONE exchange)

- Using a cold wallet for long-term storage.

- Moral preparation for sharp volatility.

And now imagine that it is April 10, 2013. Your bitcoins dropped 81% in a few hours…

What would you do?

- Would you hold further?
- Would you sell everything to reduce losses?
- Would you sit in shock and bewilderment?

Such moments test your conviction as an investor. They will test your faith in the asset. And they check the asset itself. Bitcoin has passed this test more than once, and you?...

Tell us about your wildest cryptocurrency story in the comments.