Yesterday – November 29, 2017, Bitcoin was up at $11,148. This morning, November 30, 2017, it is at $9422. Was it a crash? Absolutely not! This is normal. This is what the cryptocurrency marketplace does. It pains me to hear people say that it crashed because that implies “dump” and run. There was no crash. What we see here is the normal movement – high volatility – in the cryptocurrency marketplace.
Many weak-minded investors will panic, not me. This is a good thing in my view, and for several reasons.
First, I ask myself, “What was the value of Bitcoin this time last year? Answer: $747. Then I ask, “Is Bitcoin still a good investment?” Answer: Absolutely!
Then I ask: “Within that one-year time span, were there dips and peaks?” Answer: Yes.
Conclusion: This is to be expected. There will always be dips and peaks in value in Bitcoin but the wave is an upward one. Hold your Bitcoin, to not panic and sell. You will regret it a year from now because the world is waking up to this new digital currency (digital gold) and more so the technology that fuels it, the Blockchain.
Second, it is times like this – on the dips – that I buy more Bitcoin. And, so should you.
I feel like the man of steel this morning. I am un-phased.
Even though Bitcoin is way down today from a few days ago, not to panic not to worry. Why?
High volatility! I cannot overemphasize to cryptocurrency investors that the “crypto” marketplace has high volatility. It is to be expected. Bitcoin will recover and come back even stronger. It always does.
Before the end of December 2017, I see Bitcoin valued at over $15,000.
So, it is times like this – a dip – is when one is to exercise patience.
My mantra is patience and discipline.
Stay strong. Stay steady. Steady as she goes!
Let’s see together what the days ahead will bring.
It’s going to be OK.