Yes, that is right, it's really stinky out there, but that also means it's likely the best time to buy!
For this post I will talk mostly about bitcoin, but you could probably apply the same logic to any of the top 30 cryptocurrencies.
Did you know that bitcoin has died 937 times already?
Ok, that is mostly hyperbole, but you get my point, right?
The price has tanked from all time highs many times only to come roaring back and go on to make new highs. In fact it has happened every single time.
More of the same?
This big price drop isn't something that is all that unusual, in fact if we pull some data from just the past 2 years alone we might be able to find some pretty similar price action.
Looking back at the past 2 years (since 2016), we can see that bitcoin has had 5 similar drops and then subsequent recoveries.
Let that sink in a bit, bitcoin has had something similar to this happen 5 times just in the past 2 years.
In each case bitcoin dropped by 50% (or more) from it's recent high and then rallied within the next 3 months.
Specifically, if you look at the data, bitcoin rallied 150% from those lows over the coming 84 days (on average).
Which means...
The price has more than doubled after being cut in half from recent highs, and it has done so in less than 3 months time frame.
That's great, but what does that imply will happen this time?
If, and this is a big if, because we can't know for sure...
But, if we apply that same price action to the current situation we could see bitcoin trading back up near $20k by the beginning of May!
There is no guarantee that will happen again this time, but given the recent history of bitcoin after it has had drops like this, the risk vs. reward seems to make sense starting to put money to work here.
Now that we have that cleared up and we are in, we just have to close our eyes till May!
Image Source:
Buy and hodl
Ha ha ha!!! @africaunited, you amuse me. For me, Bitcoin seems to be the proverbial cat that has nine lives, no matter what you do to kill it, it always find a way to bounce back to life. Bitcoin is sure to launch a comeback.
I have 3 things to say here
buy, buy and buy
100x leverage
@africaunited My opinion of the BTC drop.
Past performance doesn't guarantee future results. But that being said I still think it's a good idea to buy the dip.
I am waiting for it to hit $1000 and then buy, buy, buy.
btc wont hit $1k
lol most incredibly funny thing I've heard anyone say about bitcoin. It's actually impossible for it to drop to $1k.
how's that?
how to do weed Oreo cookies, here!
https://steemit.com/weed/@jorfli/english-how-to-do-weed-marijuana-oreos-espanol-como-hacer-oreos-de-marihuana
maybe when the btc reached 100$ :)
i wanna buy some bitcoin now.
But i am so afraid about that.
i wanna buy some bitcoin now.
But i am so afraid about that.
buy only what you can afford to lose
It's the perfect time to buy right now, all the coins have dropped in value lately leaving some good opportunities to buy in. The prices will almost certainly rise again as the year progresses,thanks for sharing.
same thoughts i put in my latest post. @arliin this might be the answer to your question. buy now but buy with what you can afford to lose. and i think you can "afford" to lose some sbd knowing you didnt invest a huge currency on it. just my opinion. and again as @steemining said, "buy low, sell high" . if the forecast will happen,then buy now and sell on May. happy shopping.
Crypto world is a blood bath this day.
Lets share good news on others topic.
Thank you for sharing this post
Bitcoin is either dead or it is a great time to buy...Whatever your perspective you must only invest money that you aren't afraid to lose! Simple!
Bitcoin does seem to snap back, just when things start to settle down we should see it soon enough.
LOL you have the best e-begger troll bot line I have seen yet!
lol amazing, every platform has these losers!