Bitcoin Trouble in Little China

As I write this article, the price of bitcoin is down to about 10,800. For those new to the crypto community, it may come as a shock to see their investment plunge by 28% over the course of just a couple days. For veteran traders and bitcoin enthusiasts, however, it is just another walk in the park.

Of course, no one ever sees a dip coming, but he or she should always expect it. When the drops came in 2017 (and there were quite a few), the most rewarding move was to do absolutely nothing.

For those of you who are new to crypto, let me fill you in on some important news that you may have missed last year.

First, skeptics and media organizations have had a field day reporting on bitcoin currents for the last few years. Each time bitcoin ebbs and flows, it somehow becomes the big news of the day. I remember the first big news story I heard back in June and July. Bitcoin had just surpassed the $3000 mark, and quickly plunged to about $1850, or a loss of about 35%. The best move? Do nothing.

In September, we saw the price of Bitcoin fall from about $5000 to $3000, or a 40% drop, and in November another 28% dip. Media reports of China banning crypto currencies, FUD in South Korea, the Bitcoin Cash fork, and Segwit2x all contributed to what I like to call, 'The Bitcoin Frightening.' The most profitable move? Do nothing.

So, today, markets are down, and they could go even lower. But let us not forget that we have been here many times before, we keep a strong hand, and we don't rattle. We are here because we believe in the long term benefits of not only Bitcoin, but block chain technology as a whole.

When the storms come, just remember the famous words uttered by Jack Burton:

"You just listen to the old Pork-chop Express and take his advice on a dark and stormy night when the lightnings crashing and the thunders rolling and the rains coming down in sheets thick as lead.
Just remember what Jack Burton does when the earth quakes and the poisoned arrows fall from the sky and the pillars of heaven shake. Yeah, Jack Burton just looks that big ol' storm right square in the eye and he says 'Gimme your best shot pal, I can take it."

--Big Trouble in Little China