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

Bitcoin’s worth 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 nearly $100,000 for a single bitcoin. It’s loopy to me to suppose that the “dip” is again to only below that essential milestone, and actually exhibits how far this asset has come during the last 15, happening 16 years.

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

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

— Bitcoin Journal (@BitcoinMagazine) December 13, 2024

HODLing bitcoin might be scary at instances for brand spanking new Bitcoiners. This asset is risky each methods – which is nice when it’s pumping however it makes folks rethink their lives when it’s dumping. If you’re new and acquired the native high 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 positive.

This can be a wholesome pull again and the one factor try to be nervous about is stacking extra bitcoin at present than you had yesterday.

It’s extra essential to be taught the basics of Bitcoin and perceive this new asset class than to fret about what the worth of bitcoin does on a everyday foundation. Bitcoin is a wild beast and could have downturns simply as onerous because it swings up. This volatility, even the downturns, are an excellent factor for a lot of causes – it creates alternatives. Particularly for brand spanking new bitcoiners to make the most of stacking bitcoin at cheaper costs than after they initially received in.

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

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

2.) Bitcoin will succeed and attain a worth vary within the hundreds of thousands and past.

I believe Bitcoin has confirmed itself that it’s going to not fail, so possibility no 1 right here shouldn’t be on the desk. That means possibility quantity 2 is what’s extra prone to occur.

And if possibility quantity 2 goes to occur, then effectively, it is best to stack extra bitcoin on each downturn.