There's a big pump&dump every year, we have seen this story to repeat every year since BTC was born.
When it pumps, it pumps more than it did the previous year.
So when it dumps hard i just HODL and don't care.
Even if it drops to $1k today.
Now, is this a good strategy?
Why many get scared and sell?
Because of their typical fears:
Crypto can drop to 0 overnight , it is a temporary trend.
Crypto is like Tulip mania https://en.wikipedia.org/wiki/Tulip_mania
blah blahI think those phrases are a totally wrong analysis.
You simply cannot mix different assets and think they have all the same potential.
You cannot say Tulip Bulb = Gold = Bitcoin just because "an asset is an asset, they are all the same and can go to 0".
They are different, some of them are likely to be worth nothing and drop to 0 with no recover, other will never do that.
Every asset has different properties that determine their potential to grow or drop.
Tulip bulb had no potentialNo intrinsic value: it's not scarce, it can be found in many places, PLUS does not have an actual use, totally useless.
What are the reasons why the price pumped?
Just marketing and no substance. Doomed to failure.
Gold has potential it is scarce, PLUS this metal is used in tech industries due to its properties , so it has an actual use as well.
Try asking yourself why every time there's a big international war/threat, everybody buys gold and it's price goes up.
What about Bitcoin ?it is somewhat scarce due to the supply limit,
PLUS it is a big technological and social/economical revolution.
It is not made just for speculation, as its creator made it for one specific and useful purpose : free the people from poverty and gov tiranny.
So it has a HUGE actual use as well
- - - - - - - - - - - Conclusion - - - - - - - - - -The price dropped by -350% ?
HODL and go to sleep for one year - - - - - - - - - - - - - - - - - - - - - - - - - - - - -