Some people think like it is the best thing but some don't. Because there have been many people who saw this as a opportunity to accumulate. But also many people were unhappy as they lost a lot of money.
Let's try to be specific with our bullshit assertions about some people x and other people y, because the fact of the matter should be that if the BTC price goes up 6.5x (from September to April), then you better fucking be prepared that the BTC price might not go up from that 6.5x price rise (or at least not right away and there could be a fairly lengthy delay in terms of both getting back up there and continuing to go up from the ATH price point), so I hardly have any sympathy for those peeps who are jumping into whatever investment (BTC or otherwise) and expecting the price to ONLY go up.. especially if they are buying BIG (hypothetically) on the way up.
That's nearly pure nonsense to even expect that those buying at or near the top peeps are representative of anything beyond having unrealistic expectations.
Let's take a more realistic person who may have bought $10k worth of bitcoin in 2020, and then just continued to buy fairly aggressively at $100 per week, so maybe this hypothetical person (of having around a year in bitcoin) has invested another $5,200 (that is 52 weeks x $100) into bitcoin. So maybe he has a total of $15,200 invested into bitcoin and maybe 1.5 BTC.. So in the past couple of months, his BTC portfolio value went from $97,350 (1.5 x $64,895) (which would have been $82,150 in profits) down to $45k (1.5 x $30,066) (which would have been $30k in profits) when the BTC price was at its lowest, so far.
And, so now as I type this post, this hypothetical person of one year in bitcoin has a BTC portfolio value around $54k (1.5 x $36,000) (which is $38,800 in profits). That is a person with 1 year in bitcoin and who is not fucking around with trying to trade or engage in bullshit strategies of timing and getting worked up about over investing, but just trying to accumulate bitcoin at a rate that is presumably reasonable for his budget, and I see little to no reason for such a hypothetical person to panic or get worked up because his level BTC value dropped more than 50% from $97,350 at its peak down to $45k at its low point. If you do not overinvest and you engage in reasonable investing strategies while accounting for your own financial situation, then it seems quite likely that the longer that a person has been in bitcoin and reasonably accumulating BTC, then the more likely they are in profits - even with the 53% price dip that is now bouncing around a 40% to 45% correction arena.
If you have set some BTC accumulation targets, then surely it seems like a good plan to just keep accumulating BTC. On the other hand, if you had already reached your BTC accumulation targets and you are in a kind of maintenance mode, then at some point you do not necessarily need to continue to accumulate BTC, even though a 50% price dip and then a kind of bounding around in the 40% to 45% price correction territory does seem to be a good place to accumulate a bit more, even if you may feel that you are already in a high enough allocation level in terms of your BTC.
In the end, each person is going to need to assess where s/he is and figure out, if more accumulation might be a good thing when there is a decently large drop in price or if maybe just waiting to see what happens in terms of planning to accumulate more if the price were to drop more, which is also far from guaranteed, but does not hurt to be prepared psychologically and financially for either BTC price direction, and don't engage in strategies that will cause you to panic along the way.
For example, if you are a relative newbie to bitcoin and/or you made some mistakes in recent times and you bought way too many BTC at too high of prices (such as buying a lot of BTC between $50k and $64k) and not adequately pacing yourself, then hopefully you can learn from this whole situation and attempt to figure out some portfolio management strategies to make yourself feel better both financially and psychologically, and likely one of those portfolio management strategies would just be to continue to buy BTC, and if you have run out of money to buy more BTC but you still happen to have a job in which you have a sufficient cash flow in which you can buy $100 per week, then seems that if you continue to buy at $100 per week (or whatever happens to be your reasonable assessment of your cashflow and your budget) sooner or later BTC price will go back above your average cost per BTC, and if you are buying more BTC below your average cost per BTC, then you would be bringing down your average cost per BTC.
Another possibility is that you do not have any more money and you don't have sufficient if any cashflow, then you kind of fucked yourself by gambling and buying too much, but there still could be a strategy to HODL through this period, so hopefully people learn not to be investing more than they can afford to lose including making sure that they have a cashflow and if they were to take out debt to buy BTC (ending up at higher than current prices) that they are able to continue to service their debt during these kinds of periods that may only last a few months, but sure there are scenarios that it could take several years to get back to our previous ATH levels (doubtful but surely within the realm of reasonable possibilities that anyone should be prepared for those kinds of scenarios (even extreme ones) when they get into buying BTC).
I am not really sure if I will be happy about this fall. I do not have any profit yet since the last btc ATH. The signature campaign I participated does end yet. But hopefully this year btc price recover so when the campaign paid me, I will also earn big. I do not have anything to buy. My money will be all for my needs so I can't trade or either bet.
Well what is your investment timeline, ArIMy11?
With traditional investments, many people take 30-50 years to establish a large enough investment in order to reach a kind of "fuck you" status, and surely a decent number do not really reach that kind of status and/or are unable to really stop working at some point and to have various kinds of income coming in to support them through their remaining years (which is also a bit of an unknown).
In any event, seems to me that bitcoin has the potential to accelerate the timeline in which someone might reach "fuck you" status or at least be able to provide a decent amount of supplement to other forms of income - even likely provide some hedge in regards to other forms of income or assets NOT adequately holding their value. So if your timeline** is long enough 4-10 years or even longer, then surely, you can be quite advantaged by just figuring out ways to just plod away at accumulating more BTC and letting it grow and using your other moneys for your daily/monthly expenses.
**Even though your time in BTC will continue to run as you are investing in BTC, your timeline for anytime that you are considering investing more into BTC (or earning more from services or signature campaigns) should be measured from the time in which you accumulate more BTC or inject more money into buying more BTC.Of course, some people want to try to reach "fuck you" status in a very accelerated way, but does seem a bit unrealistic and likely even folks with decent amount of value might well need a few 4-year cycles to really start to accumulate value in their BTC portfolio to be able to start to feel comfortable to start to draw against it.. but otherwise, keeping and maintaining BTC portfolio that is hopefully increasing in value in the broader picture - larger cycle spaces, would seem to be a prudent way forward for anyone who is able to manage it and don't get too impatient with how long a process of value building can take, even with a seemingly good investments, that bitcoin seems to be.
