Comparing the current Bitcoin price crash to previous ones.
Thought it might be interesting to look at a few previous Bitcoin price crashes. The price has gone much higher after these, that's why so many people just hold.
June 2011. The price took about 18 months to recover from this one. The uptrend took a few months to start.
April 2013. This was a quick crash and a recovery started the next month.
December 2013. The down trend lasted a year.
This is where it is today. There's a chance that this will reverse rapidly or it could turn into a longer fall and recovery. Bitcoin has always gone on to higher prices in the past, I hope that continues but I'm not going to risk too much money. There might be a good opportunity to accumulate coins when this bottoms out, if it doesn't reverse too quickly. This isn't financial advice, just my amateur thoughts.
Charts from https://www.buybitcoinworldwide.com/price/
I think the crypto markets got a little ahead of themselves, but long term the prospects are still good. As real-world uses become adopted by main stream folks and pressure is put on fiat, they will all shoot toward the moon again.
Very good post. @sharpshot