In November and December of last year, Bitcoin and the entire cryptocurrency economy hit all-time highs. Like all the bubbles before it, there was a tremendous amount of hype, Google search trends soared, Bitcoin exchanges bogged down as they struggled to onboard all the new excited users…
And then it crashed. And crashed more. And now, six months later, we are still wavering at a level where it’s not clear if things will start going up, stay sideways, or take another plunge down.
Part of the malaise we are experiencing is the fault of all the people who were so excited to jump on the moon rocket when things were soaring. They got on too late, and they were the hardest hit when the plunge happened.
Because they were new, they did not know that this is normal. Bitcoin grows in spurts. And for most of us, it’s a mistake to buy when things are shooting up. If you missed the launch, it’s better to wait out the ride and get on board on the other side of the inevitable crash.
And that’s where we are right now. On the other side. Of course, there’s no telling how long the doldrums will last, or if another hack or government intimating a ban will send it spinning to new lows. Still, when compared to the heights achieved in 2017, we are in the doldrums.
That makes now the right time to start investing in cryptocurrencies if you aren’t already in, or pick more up if you are.
We here at BitcoinWarrior have made a note for ourselves to start posting “DON’T BUY NOW!” the next time Bitcoin shoots past it’s last al-time high. Maybe if we have fewer people jumping on the moon rocket when it’s in steep descent, we’ll less bruised wallets and egos on the other side to believe all the FUD and spread the malaise.
Note: We at Bitcoin Warrior are not investment advisors and encourage everyone to do their own research before investing in anything. Also, we HODL several cryptocurrencies and have a solid belief that after one or two more bubbles, Bitcoin will begin displacing fiat use cases.