How to Handle Bitcoin's Price Drops

Bitcoin has been hanging out below $60,000 for over a week now. Old school Bitcoiners are sipping martinis at night unbothered by the news, those who have been around a few years are praying that what happened last time will happen again this time, and a brand new cohort of Bitcoiners - some who bought above $70k a few months ago - think they just lit their life savings on fire after just telling their friends and family what geniuses they are for discovering Bitcoin.

‍

For the latter group, hopefully this helps: the fundamentals of Bitcoin haven’t changed.

‍

There are only two things that need to happen for your ROI to be positive long term:

1. The network must continue functioning, and
2. Bitcoin adoption must continue to increase

‍

Safe to say, the network is looking pretty solid. With 100% uptime for over a decade, Bitcoin has far outperformed the likes of Internet giants, such as Google (who last had an outage in 2022).

‍

When it comes to Bitcoin adoption, the ranks seem to be growing. Bitcoiners have now established themselves as a voting bloc worth pursuing, per Republican’s recent “anti-CBDC, pro-self-custody/mining” position. Network hash rate is competitive with all-time highs even post halving. The ETFs are here, pension funds are buying Bitcoin, and, as members of traditional finance buy in, Bitcoin is becoming “ok” to own on Wall Street.

‍

This is all we need. For more and more people to realize that hard money is the best form of savings. For institutions to recognize that there is value to scarcity and reliability. For governments to understand that the hardest form of money can’t be outrun forever.

‍

Dips will happen; you can’t expect an asset to go from unknown to global reserve currency in anything even resembling a linear fashion.

‍

But the trajectory is still upward. It seems we may have some sell pressure from the German government and creditors who just received their funds from Mt. Gox, a defunct exchange from yesteryear. These things happen, same as when Celsius, Three Arrows Capital, and FTX all crashed back in 2022.

‍

And yet here we are, up 100%+ year-over-year.

‍

Stay focused, keep stacking, and don’t worry about how Bitcoin is valued based on your local currency.

‍

Remember, one Bitcoin equals one Bitcoin.