Looking at the Bitcoin weekly chart since the beginning of 2020, we can see that the worst period took place when the Covid product was launched.
This is reflected as a strong drop from $10,500 to $3850 that lasted 3-5 very short weeks.
Immediately after Bitcoin started to recover and kept on growing until this date.
If you were not prepared, the best move is just to wait.
Another option is to always have cash on hand to buy Bitcoin at the low prices when this type of opportunity shows up while you still keep/hold your original stash long-term.
How would a similar drop look like today?
Last time in Q1 2020 we saw a 63% drop (-63%).
Today, this would mean Bitcoin going as low as $18531 from the current price or $23790 from ATH and then immediately resume its growth.
In all honesty, it doesn't really matter if in a impulse Bitcoin hits 30k, 20k or 10k... For us true believers, this is only a chance to buy more or for us to sit back, relax and wait.
The good part about seeing a wave take form, is that we know that a wave goes next.
The market has different cycles...
The price moves in waves.
If you are a Bitcoin Bull...
- When prices are up we rejoice.
- When prices are down we buy again.
The question is no longer about Bitcoin being here in years to come, we know that Bitcoin /Crypto is here to stay.
Knowing this, it is easy to hold.
How much you think 1 Bitcoin will be worth ten years from today?
Think about it for real...
It doesn't really matter, it is sure to be many times more than the "high" price of the day.
Thanks a lot for your support.