Lesson - History of Bitcoin crashes #BTC 😓
Courtesy: xcryptogurux Reddit Feb 2, 2018
Bitcoin has spectacularly 'died' several times
📉 - 94% June-November 2011 from $32 to $2 because of MtGox hack
📉 - 36% June 2012 from $7 to $4 Linod hack
📉 - 79% April 2013 from $266 to $54. MTGox stopped trading
📉 - 87% from $1166 to $170 November 2013 to January 2015
📉 - 49% Feb 2014 MTGox tanks
📉 - 40% September 2017 from $5000 to $2972 China ban
📉 - 55% January 2018 Bitcoin ban FUD. from $19000 to 8500
I've held through all the crashes. Who's laughing now? Not the panic sellers.
Market is all about moving money from impatient to the patient. You see crash, I see opportunity.
You - OMG Bitcoin is crashing, I gotta sell!
Me - OMG Bitcoin is criminally undervalued, I gotta buy!
N.B. Word to the wise for new investors. What I've learned over 7 years is that whenever it crashes spectacularly, the bounce is twice as impactful and record-setting. I can't predict the bottom but I can assure you that it WILL hit 19k and go further beyond, as hard as it may be for a lot of folks to believe right at this moment if you haven't been through it before.
When Bitcoin was at ATH little over a month ago, people were saying, 'it's too pricey now, I can't buy'.
Well, here's your chance at almost 60% discount!
With growing main net adoption of LN, Bitcoin underlying value is greater than it was when it was valued 19k.