I saw the current crash, and wanted to write it down in my calendar. Just to be there and I could look back at it a few years from now. And have a good laugh, how scared everybody was.
I want this to be a frequent reminder that these crashes happen...all the time.
So put this post in you bookmarks and read it every time the market plummets. Read it and remember what happened last time. Because aside from concrete news and factors the story is the same every time. Yet people freak out every time it happens.
What happened?
Multiple factors led us to this point. We have the bitcoin halving cycle, or that supercycle stuff I'm not I understand yet. Also there are outside economic factors like stock market health, overall financial status, deadly viruses or wars. Or just bored whales playing games.
What's happening right now?
These factors made up the situation we are in right now. The crypto market crashed, and you see nothing just fear everywhere you turn. Articles, blog posts, comments, even newspapers write that bitcoin is dead...again.
Nobody wants to buy because it's risky, too low or anything they came up with. Everybody not involved in crypto dooms it because they will feel themselves better not getting in it. Everybody in crypto is anxious.
What will happen?
Some other news start to flow in. The market fear fades away as people understand there wasn't anything to fear in the first place. Wars, pandemics go away. Global economic factors will stabilize. Crypto people will return to crypto. Some of not crypto people will see our strengths and will become one of us.
And in the long term?
I wanted to pinpoint the previous "doom crashes" on the bitcoin price graph from the beginning. The thing is, I couldn't find them. Let me repeat, the largest bitcoin crashes are so insignificant in the long term they are barely visible on the graph.
Conclusion
The market took a hit. That is bad. But don't worry, it will recover and will become stronger than before. So heal your wounds, buy some more and prepare for things you will forget anyways.
But here is one thing to keep in mind:
Billionaires are made in bear markets
And always do your research before you act.