Bitcoin

This question gets asked every time there was a 20% drop over 48 hours and this happens around 5 times a year. So, it has happened 50 times since the inception of Bitcoin 10 years ago.

What was the answer every time if Bitcoin is done now? The answer was that it isn’t done and that it is a natural market movement, especially after such a huge bull run of 17x increase. Every bull run is followed by a months long correction period of 70% with several ups and downs.

In fact, this has happened 6 times now.

9x over 5 days in 2010 from $0.008-$0.08
10x over 5 months in 2010 from $0.08-$1
40x over 2 months in 2011 from $0.07-$30
14x over 3 months in 2013 from $15-$213
12x over 2 months in 2013 from $139-$1132
20x over 7 months in 2018 from $1,000-$19,800
Every time there was a 17x bull run with a 70% correction on average and it will happen again. You can check for yourself here.

So, just hold on to your coins, buy the dip and sell next time you’re at a 10,000% profit. Most traders become greedy when they already made a 10,000% profit and think they can make a 20,000% profit. Once they have made a 20,000% profit, they want to make a 30,000% profit and thus never sell. Then the price drops by 50% and they beat themselves up that they never sold. Then the next time they are at a 10,000% profit they will do the same thing again and not sell.

This is a newbie trader mistake. Don’t be a newbie trader.