The Great Bitcoin Crash of 2018 - Will Cryptocurrency Survive?
I'm sure that I don't have to tell anyone that it has been a particularly rough start to 2018 in regards to cryptocurrency. After seeing many coins rise to all time heights in December it seemed inevitable that it wouldn't last forever. It would have been difficult for anyone to predict a crash of these proportions and it leaves everyone asking the same question... What should I do? Before answering that question, let me put this crash into some perspective for everyone reading this article.
For those of us that invest in cryptocurrencies it comes as no surprise when these currencies have large swings. Let's go back in time and look at some of the largest Bitcoin crashes in its short history:
April 2013 - Bitcoin Crashes from $266 to $54 (79% Decrease)
November 2013 to January 2015 - Bitcoin Crashes from $1,166 to $170 (87% Decrease)
September 2017 - Bitcoin Crashes from $5,000 to $2,972 (40% Decrease)
January 2018 - Bitcoin Crashes from $19,000 to $8,500 (55% Decrease)
So what can we learn from the history of Bitcoin? When I look at these numbers it tells me that once it stabilizes it will slowly recover over the next couple of months and within a year it could climb to the highest levels in its history. Believe me, I know how hard it can be to HODL in these dark times, but its important not to panic and start selling to "cut your losses". If you believe in Bitcoin and the overall idea of blockchain it's important to hold tight and not sell while it continues to crash. In fact, it actually creates a great opportunity to buy Bitcoin and many other coins that have fallen in the last month. I remember back in December so many people were angry at themselves for missing out on cryptocurrencies. Well, now is the time to take your shot. If you still believe that Bitcoin, Blockchain, and cryptocurrencies are the future, the time to buy is now. This is a long term investment and I still believe that over time many of these coins will show tremendous gains. But it won't be without some bumps in the road. Keep the faith and don't give up hope yet.
Stay Cool My Friends
*DISCLAIMER* - This article is not meant to serve as any investment advice and is meant purely as entertainment.
It's a good point you make if you believe in the Blockchain invest now, I wonder if I will have the nerve to do it as things are going down. Thanks for pointing out the history of the crashes as you call them, I found that very interesting.
Thanks for the feedback @gyro. For me personally, I'm sitting here wishing that I currently had some extra money sitting around so I could invest in some more coins. I have a feeling everything is gonna be looking sweet in 6 months. Only time will tell and determine if we are geniuses or morons, haha.
Yeah same, hope your feelings are right in 6 months!