Web Toolbar by Wibiya

Bloody Wednesday for Bitcoin and the Reaction


Yesterday was a scary day for those heavily invested in Bitcoin. It began on Tuesday with the price plummeting from $18,000 down to near $10,000 at it’s the lowest point yesterday. Most of the discussion revolved around ‘why’ instead of ‘it’s a great time to buy’. Just exactly how bad was it? Well at one point there was a post at the top of the cyrptocurrency Reddit that provided the phone number to the U.S. National Suicide Hotline!

It’s also important to point out that it wasn’t just Bitcoin. Every major cyrtocurrency out there was down. From Ether, to Litecoin, to Ripple, Bitshares, and everything in between to massive dips yesterday. Hopefully, no one was so leveraged that they were really considering suicide, but it is something to take note of. In this age of investing, we are in an extremely volatile time. We don’t even know which coins will be the protocols yet. Keep that in mind when investing.

Where Are We?

We are in such early stages in this revolution that those who did nothing and held yesterday will be rewarded in the long run. There will likely be other massive dips in the future, as well as big runs up. Make sure you have a plan and stick to it. This will hopefully prevent you from becoming emotional and making rash decisions during these times. Always remember that we are on the cutting edge of something huge, and regardless of how the prices vary each day, we will all be fine in the long run.

Brush off the “I told ya so”‘s at the office, and stick to your guns. This isn’t about proving anyone right or wrong, it’s about continuing to stick to what you know. If you do that you will be rewarded eventually. Laugh the doubters off, and even offer to help them get in when they are ready. And trust me, that day will come.

You can leave a response, or trackback from your own site.

Leave a Reply