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 best way 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 beneath that necessary milestone, and actually reveals how far this asset has come during the last 15, occurring 16 years.

Yr-to-date, bitcoin is up over 128%. And by historic developments, it’s coming into into its third 12 months of rising in value earlier than having a big correction. So this tells me that bitcoin isn’t finished pumping but, it’s simply taking a breather earlier than its subsequent leg up.

#Bitcoin ought to proceed pumping via subsequent 12 months, primarily based on historic developments 👀

How excessive will BTC rise in 2025? 🚀 pic.twitter.com/VFX6jNgvvP

— Bitcoin Journal (@BitcoinJournal) December 13, 2024

HODLing bitcoin will be scary at occasions for brand spanking new Bitcoiners. This asset is unstable each methods – which is nice when it’s pumping but it surely makes individuals rethink their lives when it’s dumping. In case you are new and purchased 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 wonderful.

This can be a wholesome pull again and the one factor you ought to be frightened about is stacking extra bitcoin in the present day than you had yesterday.

It’s extra necessary to study the basics of Bitcoin and perceive this new asset class than to fret about what the value 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 a superb factor for a lot of causes – it creates alternatives. Particularly for brand spanking new bitcoiners to reap the benefits of stacking bitcoin at cheaper costs than once they initially bought in.

Everytime you’re unsure, it’s at all times necessary to zoom out and see the trajectory that bitcoin is on. Bitcoin has two potential eventualities it is going to 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’ll not fail, so possibility number one right here will not be on the desk. Which means possibility quantity 2 is what’s extra prone to occur.

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