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Cryptocurrency investors who have experienced several cycles have more valuable perspectives. For example, no matter how much you explain to someone new to crypto today, you can’t teach them the lessons from the LUNA crash. Or the lessons from the 2018 crash or the “smart money” nonsense that underpinned the crypto lending frenzy. So, what does experience say?
Advice from a Veteran Bitcoin Investor
Experience can be bought. That’s why schools exist, and you don’t need to rediscover gravity or millions of other things. In the field of cryptocurrency, the perspectives gained by experienced investors have brought them profits so far. Although there is no guarantee that it will continue to bring profits, an analyst known by the pseudonym Colleen took a deep breath and published the following sentences today.
“There is a lot of noise about the price. Bitcoin can do anything. It can drop to $30,000, even $20,000. Do I think it will drop? Not really. But can it drop? Of course, and I am ready for it.
The person who introduced me to Bitcoin was an early investor from the ‘Bitcoin Talk Forum’ days. They taught me to be prepared for Bitcoin at any price. They also taught me that the value of Bitcoin is not tied to its price. This perspective helps me a lot when the price drops from $69,000 to $16,000 (or from $74,000 to $53,000). Because I always know what I have. My faith is not shaken because I understand the fundamentals and rock-solid foundation that make Bitcoin valuable beyond price fluctuations.
Real value? It is in the code, the principles, and the future it represents, no matter what the market says today.”
If Bitcoin ever goes to zero, Colleen will regret trusting it for the first and last time. However, in the past years, those who thought like Colleen have been winners.
Will Cryptocurrencies Increase?
Another person closely interested in cryptocurrencies is known by the pseudonym innocent, who shared their views on the recent drop a few hours ago. According to them, the drop in BTC price below $57,000 was due to the decline in tech stocks. Japan’s announcements this week about potentially raising interest rates further also triggered the general weakness in risk markets.
And of course, NVIDIA, innocent wrote;
“Recently, Bitcoin’s price dropped below $57,000, reflecting broader market declines, including in the tech sector. This drop in Bitcoin’s value occurred alongside fluctuations in major indices like the S&P 500, influenced by external factors such as Nvidia’s stock performance.”
Popular cryptocurrency commentator Roman wrote that he does not expect a major move.
“I am sharing the 4-hour chart of BTC. The rise after the US market opened was due to the Bullish divergences I pointed out in the last few days. I don’t expect a major move here, but the daily price action turned relatively positive with volume as the price declined.
In the long term, I want to see a reversal setup somewhere in our range here.”
According to their chart, closures above $59,956 could bring the possibility of a new test up to $63,000.
