It’s done it before. I’ve seen it before. And yet I #panik every single time. Bitcoin leads the way and when that goes up, everything else goes up, and when it goes down, everything else followed.
When I went to sleep last night, XRP was hovering around the $0.96 mark and this morning it was at $0.77, BTC went from $57k to $45k before recovering to $47. I haven’t even checked LTC because it would make me cry.
But, quoting one of the bitcoin’s greatest advocates, “I buy every single day, and I never sell.”
Bitcoin has always crashed after an all-time high, and every single time it’s recovered and went on to a new all-time high. The most famous crash happened in 2018, when it crashed 80% from its all-time high on 17 December 2017 of $19,783.06.
Meanwhile you have Charlie Munger, an institutional investor who’s probably trying to buy time either because he doesn’t understand bitcoin, or because he wants to buy the dip (or the crash, and btw, this is just my opinion). And then you’ve got the president of El Salvador, who said the country “bought the dip”.
That’s the beauty of bitcoin. Opinions can be influential in the short run, but they’re always irrelevant in the long run. Also, I’m gonna have to move to El Salvador sooner or later.
This post was previously published on my personal blog Bitcoinea
