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RE: Remember When Everyone Was An Awesome Bitcoin Investor?
Nice post. This is especially true with a new asset class. The .com bubble is a perfect example. It was new. Most didn’t understand what they were investing in. The bubble burst, and many lost a fortune. Finally people grasped what it was, allowing it to rebuild into the massive market it is today. I’m not sure we’ll see a crash like this in the crypto market again. I feel once it does recover, the market will be much healthier and sustainable. Doesn’t mean we won’t see healthy corrections, or even stagnation. but I’d be surprised to see a complete collapse like this again anytime in the near future. Still, your point is a good one...and people should be willing to take profit along the way in any market.
Yeah, basically it has looked very much like the dot com bubble....just happening even faster. People forget it took 5 years for the dot coms to recover.