I've written a short article here to give some perspective to the price crash of Bitcoin and explain this opportunity we have right now.
At the time of writing, Bitcoin sits at $4,845.
So why am I smiling?
Because I have a basic understanding of how markets work and react to global events.
Markets go in cycles and react fairly drastically to global news events whether that be political, acts of war, or in our current situation, global pandemics. Take a look at the S&P500 over the past 100 years and it's clear even to a lay-man like myself.
A month ago we sat on nearly $10,000 for a BTC and we all knew that it was just the beginning of the future potential for the coin that dominates the crypto market cap. Whilst many billions of dollars have been wiped off the total market cap temporarily, nothing has really changed.
If anything, potential for BTC is 50% greater than it was a few weeks ago!
I'm heavily accumulating all of the coins in my portfolio right now!
Some people are predict $2k, $1k, or even less....GOOD!
If you have a true long term view of the market, this is great news. I'm only concerned about the price of the asset when I come to sell. Not for the months and years before I choose to do that.
To me, this is like someone winding back the clock of an asset that I know has already reached $19,700, and letting me buy it for $4,845 instead of $10,000. Why would you not be excited about that?!
Imagine being about to buy NASDAQ at 4000!
Now I know I'm drawing comparisons between two very different asset classes. But this is to explain the size of this opportunity to you. We know crypto markets spike and crash faster than almost anything else and this mean the recovery could be nothing short of spectacular.
S&P500 and NASDAQ both jumped up around 9% in a day so their recovery has already started.
Don't wait and miss the crypto spike!
What do you think? Are you still HODL-ing? Have you sold up and cut your losses?
Let me know in the comments!