Nice one! Just need the price to start heading north again.
Yeah, that would be nice. Personally, I think there is more downside to come before it goes up again. During these times, I believe it's important to remember how Bitcoin has faired in downturns and crashes in the past. If history repeats itself, then those who can afford to hold are all good. For anyone who's interested, here's a recap (prices in USD) ...
In 2011, the price peaked at $32 before crashing and entering an extended bear market that took it all the way down to $2. That's a correction of more than 90%. Next, in 2013, the Bitcoin price climbed from $13 to $1,100 before crashing and once again entering an extended bear market. This saw the price retrace to a low just above $200 — ouch!
Those who have held their Bitcoin throughout these seemingly catastrophic crashes have been richly rewarded. Panic selling, on the other hand, has led many to regret their decisions.
Whatever happens in the next year or two, I think there will be a bull run leading up to the 2020 halving, followed by a post halving dip and then through the roof in 2021. This is purely based on what happened leading up to the 2016 halving and then into 2017. It's supply and demand. Of course, for whatever reason, it may play out differently. This is just my best estimation.
A year ago the price was $1,000, in December it went to almost $20,000 and now it's $8,000. It's been one crazy ride that may well continue. A bull run to $100,000 followed by a crash to $20,000 certainly wouldn't surprise me at all. In the end, hold, hodl, don't sell unless you have to.
