https://news.bitcoin.com/veteran-trader-peter-brandt-warns-bitcoins-price-corrections-lengthy/
And anyone who didn’t already know this about any investment, probably shouldn’t be investing in the first place!
With the possible exception of bitcoin, one thing I’ve learned in the last 10 years of watching different investment markets is that investing is not a “get rich quick” thing. Investing takes time, a little knowledge, and a little luck.
Even with my own experience with bitcoin, it takes quite a while for the price to recover. When I last sold in April 2021 when BTC had reached $63K it dove to $35K by July when I bought back in, but it didn’t recover to $65K until November of 2021. I sold at that level again, and bought back in when it dove to $35K in January of 2022. So I expect it to take a few months to get back up to $50K. I just looked for today, and it’s down a bit at $37,800.
One of the hardest things I’ve realized about investing is not freaking out when I see the number go down by a few thousand dollars a day. Take my initial investment that I’ve said several times was $10,000 back in 2011. The difference between a $40K and a $37.8K BTC is quite a staggering number. In my head I know how much it is, I just don’t put it to paper.
In any investment, you have to be ready for the ups and downs. Just look at Facebook. They just lost nearly 25% of their value in one day. How long it takes them to recover is anyone’s guess.
I know I’m prepared to ride out the storm of the bitcoin ups and downs, because I believe that the value is going to continue to climb. More companies and countries are going to recognize crypto as an important way to due business. And with it’s decentralized, non-bank regulated peer-to-peer service, those entities are going to have to change in order to compete. I think with the BlockChain crypto is here to stay, and the value is going to prove that.
A Little Bit of This and That 