As the title notes, I got into crypto in early 2018 following that epic run up. I watched the market grind Bitcoin from around $12k to almost $3k later the same year, although I didn’t have much invested. Next, I watched the market comeback to near $14k in 2019 before being grinded back to $4k in March 2020 because of COVID.
The point is that $69k looked theoretically impossible at that point.
Fast forward nearly 24 months later, we’re sitting above $30k and people are still worried. If you knew two years ago that Bitcoin would hit $30k, would have probably sold everything and gone all in.
The current market action clearly resembles early 2020 and even if it doesn’t play out the same way (especially in terms of macro.) These experiences could shape you into a legendary investor or shake you out.
The result depends on how you approach it.
Ultimately, Bitcoin and the entire crypto market (solid projects) will eventually be worth a lot more than they are today. The key is to lower your time preferences and focus on stacking.