While Bitcoin’s volatility may seem very intense, this (expected) correction is healthy and normal.
Check my previous posts and I (like many others) predicted this!
$BTC price is down over 12% from its all-time high and its critics are taking victory laps this week (seriously , they never learn) bitcoin has plummeted all the way back to… $97,000. (They did the same when BTC fell to 30k, then 40k, then 50k etc from heights.. )
It is still practically almost $100,000 for a single bitcoin. 1 BITCOIN. Let that sink in!
It is crazy to me to think that the “dip” is back to just under that important milestone, and really shows how far this asset has come over the last 16 years.
Year-to-date, bitcoin is up over 120%. And by historical trends, it is entering into its third year of rising in price before having a large correction. So this tells me that bitcoin isn’t done pumping yet, it’s just taking a breather before its next leg up.
This is a healthy pull back and the only thing you should be worried about is stacking more bitcoin today than you had yesterday.
It is more important to learn the fundamentals of Bitcoin and understand this new asset class than to worry about what the price of bitcoin does on a day to day basis. Bitcoin is a wild beast and will have downturns just as hard as it swings up. This volatility, even the downturns, are a good thing for many reasons – it creates opportunities. Especially for new bitcoiners to take advantage of stacking bitcoin at cheaper prices than when they originally got in.
Whenever you’re in doubt, it’s always important to zoom out and see the trajectory that bitcoin is on. Bitcoin has two possible scenarios it will experience:
Bitcoin will fail and go to $0.
Bitcoin will succeed and reach a price range in the millions and beyond.
I think Bitcoin has proven itself that it will not fail, so option number 1 here is not on the table. Meaning option number 2 is what is more likely to happen.
And if option number 2 is going to happen, then well, you should stack more bitcoin on every downturn.