Bitcoin fell to its record low of 2020 last night at a mere $3,858.
Many people - regardless of the cryptocurrency (or stocks) are jumping ship, cashing out, freaking out, thinking it's the end of Bitcoin again. It's not.
As of right now, the market has recovered up to $5,864 and is idling around $5,400 meeting heavy resistance with buyers attracted to the low prices, with good reason.
Coinbase is advertising a 78% Buyers and 22% Seller's market, currently.
I think people need to recognize that the volatility of Bitcoin is what makes it so profitable; having margins move 40%+ in a single day allows for major investment potential. I invested most of my USD in BTC last night during the crash and have no regrets except waiting for the break below 4k, of course. Regardless, the market was down so much at the time of each investment buy that I'm not concerned about my return.
I am seeing people make a lot of rash decisions that will hurt them and it's concerning. The typical hold time went from 90 days to 31 overnight.
Patience is a virtue and it's also a requirement to make money in a market like this. It can and will be a waiting game.
I predict a strong return after the coronavirus and other global issues such as oil prices and Trump making bad decisions come to a calm.
I hope you all KEEP CALM AND HODL! Patience = $
-Thomas Wolf
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