Last night after I had gone to bed it appears Bitcoin decided to show the world it still can pull off it’s old ways. After consistently reaching new all time highs and showing no sign of slowing down Bitcoin had a price collapse.

Those of us that have followed or traded the coin for a long time are used to flash crashes and other sudden events. Many though have not experienced this as it is something really unique to crypto. Price explosions and flash crashes are still pretty common in crypto where as in other markets like stocks this would just not happen. 

What does this mean for Bitcoin? Really nothing at all. Bitcoin has done this for years and will continue to do so. This is what makes crypto and Bitcoin in particular a fascinating asset to own and trade! Catching a coin at the bottom of a quick flash crash is an amazing feeling! 

Fear not about a collapse or an extreme pullback of Bitcoin. The societal and economic issues still remain in the US and world in general. The momentum behind the coin is still there and the world is still a very crazy place. In just a few days on January 6th there are suppose to be crazy protests in Washington DC over the US election. Each day more and more Republicans seem to be coming out in support of not certifying the election. All of these moves could shake the stock markets and easily cause flight to safe haven assets. With Bitcoin showing itself to be one this could mean a price run up for it.

I hope everyone is doing good and staying safe out there!