Are you fuck*ng kidding me?
I started getting into Bitcoin when it was like $750 bucks, it crashed all the way down to $150 coming from the peak of $1200 ish on MtGox... everyone was saying it was dead, but the more I read about Bitcoin, the more it became OBVIOUS to me that Bitcoin was extremely cheap at $1200, and obviously at $150, when all the idiots were claiming it was dead. Now we are once again experiencing exactly the same situation. Bitcoin's technology keeps evolving, everything keeps getting better, but all the noobs get distracted by fake news, fork this fork that... sad to see, but this gives us smart money the possibility to accumulate more before floor becomes 6 figures.
Anyone not accumulating Bitcoin under 5 figures a coin is completely insane. We will revisit this thread in 2020 for some perspective and time will put once again everyone where they belong.
You have the power of perspective, experience and time. Also you've probably gained alot more then people who entered at a higher price, I want to know the weight of people who have entered higher vs the old timers who are well into the black on the long term gains.
Old timers arent worried because they arent risking more then their profits, its a position of comfort. New entrants stand on their tip toes on a clifftop in high winds with less gains, or none or even worse borrowed to enter which should never be done as this transaction system is un-leveraged and should stay as genuine in that way as much as possible.
This is why pullbacks happen I reckon, BTC has less slack which propels it upwards and yanks it back too if we become top heavy. Regular commerce, transactional exchange needs to flatten this market out like a steam roller, distribute gainers and losers more evenly so we get a firmer base to build from. Too much speculation is not good imo, I agree with OP we'll find a direction and progress and this is less serious then the Mt.Gox sell off/confidence falter even though that wasnt even the protocols fault really.
I do think growth is very much important and Bitcoin itself needs to develop and justify the worlds interest in it, take nothing for granted as speculation is based on that expectation.