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As recently as today, just a few hours ago actually, BTC was once again going on a run from 38,000 to 40,700 as soon as the price hit 40,000 the media immediately got their hands on it and announced it like it was a miracle that it has bounced back from it's low of 32,700. To the surprise of no one with a brain it than proceeded to fall back down to it's current price of... whatever it is for you right now! (38,200) at it's lowest.
What exactly does all of this tells us? Bitcoin has always been volatile and that is nothing compared to some of it's stints but what we do get from this is exactly that, it is still volatile. It is nowhere near being stable enough as some people would have us believe even after this dip.
We’re going to see this volatility story play out in decreasing manner as the maturity of the sector evolves, but it’s certainly a feature that’s going to be sticking around for the shorter term.
And again, this isn't anything to be dissuaded by, if you were a fan before there is no shame in it and it is still very much a worthy investment I just don't want anyone thinking BTC will suddenly stop being volatile and start going either endlessly green or endlessly red. There has been so much news lately from Elon to China to Bidens taxing... it's obvious everything can still have an effect and most likely it will stay that way for way way longer.
This is good news if you day trade of course cause you can take advantage of the volatility otherwise don't think about it too much and most definitely do not check your portfolio daily or you'll just be pulling your hair or you might sell way too early cause you fear a drop. In this situation especially, after the gigantic drop the entire crypto space took to the chin, pulling out is the worst possible idea you could have... it's all up from here people, just keep your money where it is! Cheers!
Thanks for reading hope you enjoyed it!
