Bitcoin is known for its wild swings.
Last week, it dropped under $10,000... a fall of around 50% from its December highs.
It's since recovered some, but that is a serious drop.
However, today I'd like to put that in perspective a bit.
In bitcoin's history... 50% drops are not uncommon.
Crash #1: In 2013, it dropped from $233 to $67 in a single night!
That's a crash of 72% in 24 hours.
Of course, by November of that year, it was back up all the way to $1,150.
But then it crashed again!
Crash #2: By December 2013, it was down more than 50% again to $500.
It recovered once more, until...
Crash #3: The Mt. Gox bitcoin exchange got hacked... and bitcoin again dropped 49%.
And in 2017, we've seen two crashes.
Crash #4: After rising to $3,000, bitcoin dropped back to $1,869, a fall of 36%.
And finally, we saw...
Crash #5: When China put restrictions on bitcoin trading, the cryptocurrency dropped 37% from its $5,000 high.
Okay, so what's my point in going through all of this?
First of all, bitcoin trading takes nerves of steel.
There are going to be ups and downs.
But the second point is that investors who bought on every single one of these crashes have made a ton of money!
These are buying opportunities every time.
And the latest crash means that you can buy bitcoin
at half the price that other people paid.
If you've followed my work, you know that I believe bitcoin and
other cryptos have a long way to run.
And I believe now is a very important time to act.
