Today I read tons and tons of different headlines talking about all the money that had come off of Cryptos market cap. How the Bitcoin led pullback and washed away hundreds of billions of dollars in market cap. I was a little bit surprised to see people react this way due to Bitcoin's basic nature and how this is something that has happened many times before.
The most public of these instances was in 2017-2018 when it first tried to hit $20,000 and major news places picked up its story. It fell and fell and fell I mean look back at March of 2020 and it was $4,000 per Bitcoin! The volatility is something that is really inherently Bitcoin but when you add in more and more people who are trying to trade it while it increases the stability overall large price swings are still prone to happen.
While there are still tons of bears out there with Mark Cuban being one who I really respect even he has said that if the crypto market bubble pops Bitcoin will survive. While I do not see a bubble many others do and everyone is allowed to have their own opinion. I do think Bitcoin got ahead of itself which has led to this major correction but Bitcoin is prone to them. Bitcoin at one point will have to take a breath and maybe this is it? Maybe this is when the price consolidates and stays the same for a little bit before continuing its Bull run.
Bitcoin isn't going away and it sure as all get out isn't going to fall back to $4,000 but looking at it like an asset it needs to breathe its been on a crazy pace going up. This isn't something to worry about just hodl and say the course. If you are someone like me who stacks sats then just keep doing what you have been doing. It will find it footing and begin its march forward again!
