Photo by Brian Wangenheim on Unsplash
The last few weeks have ushered in some volatility in the Bitcoin market. Markets unfortunately don’t go up in predictable straight lines. Bitcoin is no exception, and although the long term trajectory looks very promising, the retraces are often violent.
After the July 2016 halving, from the beginning of 2017, the bull market had six retraces of more than 30% and a seventh of 24% near the eventual cycle top.
From the chart, think about where we may be today?
We are paid to be patient, an entry will present itself and from history this asset gives you opportunities. There is always an urge to allocate to the next latest and greatest “mouse trap” (read crypto alt-coins), but remember every cycle creates a new narrative with even more elaborate promises.
“That men do not learn very much from the lessons of history is the most important of all the lessons of history.” – Aldous Huxley
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