BITCOIN CAN NOT ONLY SOAR THREE TIMES IN A FEW MONTHS, BUT ALSO CRASH BY 80% IN A FEW HOURS!
I just want to remind those who may have forgotten due to the rise in price: Bitcoin can fall just as quickly as it can rise. For example, in April 2013, it fell 5 times: from 269 to 51 dollars.
Reasons:
1) the rapid rise in price from 13 to 269 dollars should have ended in a correction
2) The largest crypto exchange at that time, MtGox, collapsed
3) Fear and panic due to the collapse of MTgox provoked a sales snowball
Despite this, Bitcoin did not die, but even recovered and rose to $1,000 at the end of 2013.
This crash taught me a lot, including the following:
- Volatility is the price of the crypto market opportunity.
- Do not blindly trust centralized exchanges.
- Safety matters.
- Resilience, confidence and patience win in cryptocurrency
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