There is no doubt there cryptocurrency is in a free fall right now. Whether it is China's news of banning and enforcement to simply price point on many cryptos falling. One thing is certain prices are lower today than they were just a month ago. Now may not be the ideal time to sell, but is it the time to buy?
2009 I had a choice
When bitcoin was created in 2009 the Great Financial Crisis had begun. In less than a six months from market crashing I lost my first full time job. This was late 2009. Then bitcointalk forum was just erupting and I was diving into it daily. Due to lack of prospective in my job search I simply read a ton on the forum about bitcoin in 2009 and early 2010.
I got a couple of interviews and one was successful in landing me a permanent job. But my story is really at the heart of me deciding to go the normal route. You see right around March 2010 was my successful job interview that turned into a long term occupation. At the time I had not accumulated much of any bitcoin nor had any idea what it would become today.
Yet looking back at it today it was a turning point in my life. Rather than risking and investing in bitcoin back then I took the safer route even though it was a challenge in itself. I had to work my way up the corporate ladder and learn a technical skill in order to keep my full time job. However if I had basically took the leap of faith and invested my time into btc and the crypto space back then things would have been very different.
Risk can only be measured when we see the results. That is the reality of cryptocurrency. Not many at the time of its creation expected it to go this far and yet here we are where 1 BTC is still worth over $30k. I make a decent salary for the work I do but in no way is it anywhere the value of where BTC if I had learn to buy BTC back in 2009.
Only only word of advice here is that no matter how low BTC may go it is no where nearly as bad as never buying. Why? Well I am a perfect example of this. I had a opportunity of a lifetime in 2009 to start investing in cryptocurrency but I did not and now mostly prices out of my reach. As BTC any other cryptos may potentially continue to fall there is no way it can fall back to 2009 because the demand is there and then some. So the next time you feel like you are losing in your investment, just realize it is better have bought in than not at all when it comes to cryptocurrency, especially BTC.
Just look at Michael Saylor as he continues to buy BTC with investments he receives from clients. He is a billionaire with what he has invested and this can not come as a coincidence when he is deeply investing in BTC. Looking ahead there maybe more buying opportunities for crypto but we can not sit still and let this be an opportunity missed similar to what I had done in 2009.
Thanks for reading.