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It's probably an understatement to say that anyone hoping for a rally in the crypto market last week came away disappointed.
Last week, Bitcoin (BTC) dropped by more than 20%. But people who are running for the exits aren't thinking long-term. Me? I've seen this movie twice before, in 2017 and 2019 - it's scary, but it'll end.
In January 2019, one BTC cost less than $4,000. By March 2021, it had increased to $61,000, and investors were giddy with gains. By July 2021 its price was cut in half to $31,000 again, then shot back up to almost $70,000 at the crypto peak in November.
Right now, one BTC will get you just $21,000 - talk about investing whiplash. Clearly, not every crypto investor can handle this level of volatility considering the panic-selling we're seeing right now.
But I'm here to tell you: We can.
I'm advising my subscribers not to sell anything in our model portfolio right now because nothing has changed about crypto's long-term potential. The record shows that each time Bitcoin takes a big hit, it rebounds and breaks records along the way, giving people like us the chance to "BTFD" and dollar-cost average into bigger positions.
Bottom line is, I'm just as bullish on Bitcoin as I ever was, and I still think the long-term outlook on it is incredibly positive.
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