Bought Bitcoin at $108,000? Don't Panic

Bitcoin’s value is down over 10% from its all-time excessive and its critics are taking victory laps this week as bitcoin has plummeted all the way in which again to… $97,000.

It’s nonetheless virtually virtually $100,000 for a single bitcoin. It’s loopy to me to assume that the “dip” is again to simply underneath that vital milestone, and actually exhibits how far this asset has come during the last 15, occurring 16 years.

Yr-to-date, bitcoin is up over 128%. And by historic tendencies, it’s getting into into its third yr of rising in value earlier than having a big correction. So this tells me that bitcoin isn’t performed pumping but, it’s simply taking a breather earlier than its subsequent leg up.

#Bitcoin ought to proceed pumping by means of subsequent yr, primarily based on historic tendencies 👀 How excessive will BTC rise in 2025? 🚀 pic.twitter.com/VFX6jNgvvP

— Bitcoin Journal (@BitcoinMagazine) December 13, 2024

HODLing bitcoin will be scary at occasions for brand spanking new Bitcoiners. This asset is risky each methods – which is nice when it’s pumping nevertheless it makes folks rethink their lives when it’s dumping. If you’re new and acquired the native prime of $108,000 and are panicking, take it from me, somebody who has been in Bitcoin for nearly eight years now – you’re going to be tremendous.

It is a wholesome pull again and the one factor you ought to be anxious about is stacking extra bitcoin at the moment than you had yesterday.

It’s extra vital to be taught the basics of Bitcoin and perceive this new asset class than to fret about what the value of bitcoin does on a day after day foundation. Bitcoin is a wild beast and can have downturns simply as laborious because it swings up. This volatility, even the downturns, are a very good factor for a lot of causes – it creates alternatives. Particularly for brand spanking new bitcoiners to benefit from stacking bitcoin at cheaper costs than after they initially bought in.

Everytime you’re unsure, it’s all the time vital to zoom out and see the trajectory that bitcoin is on. Bitcoin has two potential situations it should expertise:

1.) Bitcoin will fail and go to $0.

2.) Bitcoin will succeed and attain a value vary within the tens of millions and past.

I believe Bitcoin has confirmed itself that it’s going to not fail, so possibility number one right here is just not on the desk. That means possibility quantity 2 is what’s extra more likely to occur.

And if possibility quantity 2 goes to occur, then effectively, you must stack extra bitcoin on each downturn.