It's July of 2013. If you bought anywhere near the peak in April, things were looking pretty depressing, with losses as large as 70% and what seemed to be a slow, steady grind downward. A lot of people closed out their position, giving up. Here's the daily chart:2013 BTC Chart to JulyIf you hung around 'till October, you got a few more months of crab movement. August showed some positive recovery, but at the start of October, everything dumped in a day. You're still down 70%-ish if you held from the peak, but emotionally, you might be even further down, because all the painstakingly slow recovery had dumped so quickly and you didn't have any confidence the next day wouldn't be worse.2013 BTC chart to OctBut if you waited another month, you would've caught a ride up 340% from the earlier peak! And if you bought any of that dip, you would be looking at 1400% growth. Look how tiny that April peak looks in retrospect!2013 BTC chart to NovSo next let's look at today's chart. I've left some blank space for your mind to fill in the hopium:2021 BTC Chart with Blank Space for HopiumCan you see the parabolic green line that could happen, like it did in 2013 (and 2017)? Do you see the hopium rocket primed for lift off? I know I'm not really saying anything new here, but thought it might be useful to look at the 2013 charts as if you were living them then, like you are now. In retrospect, to those who aren't a part of it, it looks so easy. Like you just punch a ticket and get rich. But when you're living through it with your money on the line, it's actually months of torment. You've gotten to experience the torment (2021 edition), don't miss out on the payoff.And of course, usual disclaimers apply: this is not financial advice, do your own research, don't invest more than you can afford to lose, yadda yadda yadda.
Submitted July 31, 2021 at 08:19AM
No comments:
Post a Comment