People really like to speculate and i have seen people predict the price of bitcoin as high as $100000 in the coming years. If that happen, i am quite sure a lot of people will be rich but what if the opposite happen, and bitcoin drops below $1000? How would you react? And are you prepared?

People buy it purely because they think it might go up in value, the way they make it go up in value is to sit and stare at the price and think of magic.
As far as I understand, bitcoin has no real value other then being the first cryptocurrency, it can never replace the traditional currency. 

If you are a bitcoin hodler, what is your long term strategy?

I would love to hear what you guys think!