Today, on Feb 6th 2018 Bitcoin dropped -13,78 more percent of its price. We are in the midst of a bear market, and we've just experienced a cryptocurrency market "crash". Bitcoin dropped as low as 6.079,88 USD.
Should we be worried? Should we be concerned?
I am not going to be sugarcoating anything right now! The whole market is in the red zone, with few exceptions.
Those are the first 20 cryptos, but you get my point.
Why should we remain calm, and why should we not at all be concerned about the current state of the cryptocurrency markets?
Here is the evidence!
This chart is from 2011 when Bitcoin went from the price of 6 cents to the price of 30$ and then crashed back to 2$
But wait! The Bitcoin recovered from the drop, and Btc blast through the price of 30$ and and in 2013 went to a new all time hight of 215$!
And then guess what! It dropped to a price of 65$! Oh, NO! The BUBBLE burst again man! Those poor people must've lost alot of money!
You know it's a bubble, because CNN said so in its article in 2013!
But WAIT! It recovered once again to hit a new all time high of almost 1300$ back in Nov, 29 2013!
And then it crashed again all the way down to 190$! The bear market lasted for almost a whole year, and guess what! The media again reported a that the BTC bubble had burst !
The thing is that the story doesn't there, we saw in the past year the Bitcoin blast from 1300$ to and extraordinary, new all time high of 19.325,94$!
Who would have thought that after Bitcoin had that horrible crash in 2011 were it went from 30$ to 2,5$ or when it went from 215$ to 65$ or when it went from the price of 1000$ all the way down to 190$! But here we are when Bitcoin went from 20.000$ all the way down to 6000$!
And here we find ourselves in the middle of another Bitcoin crash! And ofcourse we had the media talk about the Bubble bursting again! Cryptocurrency is crashed forever! It's a huge bubble! You shouldn't have invested in it! Etc.
The thing is, we can look back in history and we can learn from all those crashes.
History tells us, it's only a matter of time until we reach a new all time high! Don't panic! This is an opportunity of a lifetime! Ride the roller coaster of Bitcoin and HODL!
There are going to be more bumps along the road but the cryptocurrency technology is here to stay and so is Bitcoin!
History is bound to repeat it self! Stay calm and HODL!
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