Instead, take advantage of the opportunities the market offers. The price of Bitcoin is $44.1K at the time of writing. For those who were already in the market this time last year, the current price is still exceptional. There is no reason to panic. The price of Bitcoin is up +355% year over year. There are worse one-year performances.
I think many retail investors who are entering the space for the first time don't realize how volatile crypto can be. People look to crypto as a fast and easy investment without understanding that the pricing can sway in the blink of an eye. Short term investors can be caught with their pants down, but I think if you do some research, have a long-term holding plan (aka don't put in funds that you can't afford to lose), then we'll continue to see cryptocurrencies with strong fundamentals & technology continue to increase as time goes on.
It certainly doesn't help with volatility that Musk has so much sway on Twitter and people think his opinion is the end-all be-all. However, as you mentioned in the article, institutional investors continue to accumulate cryptocurrency and I agree that this is a great opportunity to accumulate more coins at a discount. For the average investor like me, a little research and time in the market will pay off dividends in the future! Thanks for sharing your insights!
I feel like Elon Musk only cares about himself and his own goals. He knows exactly what he is doing and unfortunately people are being manipulated. BTC hodlers don't flinch but unfortunately newbies get scared and sell. As if he didn't know exactly what environmental changes this could impact the months he was pumping it. For someone so smart he thinks we're stupid for believing it. I enjoyed watching the video where Michael Saylor goes into detail on the power consumption and how it's actually providing security. I really hope he isn't messing with people and Doge because that seems really fishy as well. Keep strong my BTC peeps and keeping buying the dips!
Dollar cost averaging and weekly or monthly buys has saved my sanity over the years. I feel like setting up weekly or monthly buys and then to just forget about it is the way to go in the world of crypto. It might not be the best strategy in terms of cost efficiency, especially if you can buy at the dips and sell (if you want) at the peaks, but it works and is way way less stressful.
Very nice and I agree. I have always been one to pay attention to current events, and after the whole dogecoin thing started I actually setup alerts that notify me of certain...influencers...tweets so that I can prepare accordingly to do exactly what you mention in this article. Buy the dip because at this point it is nearly guaranteed to go back up. Cryptocurrency is special and should always be treated as such, but I genuinely do not believe it is "speculative" at this point. I think it is the future, as many of us do. Not just our financial future, but the future of economics, entertainment, and who knows what else! I see such huge opportunity for the various industries that exist to leverage cryptocurrency in useful ways and I am super excited to see how that all unfolds.
I feel better after reading that. This article was therapy.
I think Marylin Moonroe put it best when she said, "If you can't handle me during my dip, then you don't deserve me at my moonshot."
Appreciate this write up - was just what I needed to hear - thank you
A lot of people ready gets scare of watching the numbers go red.
Is not the first time is not going to be the last one. Is just part of the journey and happens in every economy or asset.
I think many retail investors who are entering the space for the first time don't realize how volatile crypto can be. People look to crypto as a fast and easy investment without understanding that the pricing can sway in the blink of an eye. Short term investors can be caught with their pants down, but I think if you do some research, have a long-term holding plan (aka don't put in funds that you can't afford to lose), then we'll continue to see cryptocurrencies with strong fundamentals & technology continue to increase as time goes on.
It certainly doesn't help with volatility that Musk has so much sway on Twitter and people think his opinion is the end-all be-all. However, as you mentioned in the article, institutional investors continue to accumulate cryptocurrency and I agree that this is a great opportunity to accumulate more coins at a discount. For the average investor like me, a little research and time in the market will pay off dividends in the future! Thanks for sharing your insights!
I feel like Elon Musk only cares about himself and his own goals. He knows exactly what he is doing and unfortunately people are being manipulated. BTC hodlers don't flinch but unfortunately newbies get scared and sell. As if he didn't know exactly what environmental changes this could impact the months he was pumping it. For someone so smart he thinks we're stupid for believing it. I enjoyed watching the video where Michael Saylor goes into detail on the power consumption and how it's actually providing security. I really hope he isn't messing with people and Doge because that seems really fishy as well. Keep strong my BTC peeps and keeping buying the dips!
I feel this drop in price is health for Bitcoin going forward..... I understand that people that bought BItcoin at $60K may think otherwise.
Bitcoin is not for the faint-hearted. The volatility can be scary for new users.
This dip is just making me want to get some more. Not dead, just playing dead and preparing for the real action. The real run is about to begin.
Dollar cost averaging and weekly or monthly buys has saved my sanity over the years. I feel like setting up weekly or monthly buys and then to just forget about it is the way to go in the world of crypto. It might not be the best strategy in terms of cost efficiency, especially if you can buy at the dips and sell (if you want) at the peaks, but it works and is way way less stressful.
Very nice and I agree. I have always been one to pay attention to current events, and after the whole dogecoin thing started I actually setup alerts that notify me of certain...influencers...tweets so that I can prepare accordingly to do exactly what you mention in this article. Buy the dip because at this point it is nearly guaranteed to go back up. Cryptocurrency is special and should always be treated as such, but I genuinely do not believe it is "speculative" at this point. I think it is the future, as many of us do. Not just our financial future, but the future of economics, entertainment, and who knows what else! I see such huge opportunity for the various industries that exist to leverage cryptocurrency in useful ways and I am super excited to see how that all unfolds.
I loved every sentence of the article
but the most striking for me
and I totally agree
sentence
Bitcoin is the people's currency backed by the people. Bitcoin does not need Elon Musk to succeed in its revolution.
The Bitcoin revolution will continue without him.
and of course
If you can't handle the mechanics of a free market like Bitcoin, then you should stay away from it.
thank you very much for this great article