I see a lot of people freaking out about the price of Bitcoin and other cryptocurrencies, and why wouldn’t they, looking at the redness of coinmarketcap can be a scary feeling.
However, I wanted to put things into perspective and give a word of advice that can hopefully help you remain calm:
- This time last year the price of Bitcoin was 737 USD, which means we are still 1662% up!
- Nothing goes up forever, every asset must go down from time to time, its call profit taking and its healthy.
- Bitcoin is still a scarce asset; price will tend to go up in the long term.
- People spend a lot of money during the holidays, which means they need to sell their cryptocurrencies.
- Everybody wants to buy the dip, but they tend to panic when the dip finally arrives. In other words, THIS IS YOUR TIME TO BUY!
But most importantly, if you believe in the technology behind cryptocurrencies and what it can do to change the world, the price is irrelevant.
