Monday morning is time to get back to work. #Bitcoin pic.twitter.com/JlufLXRT9W
— Michael Saylor⚡️ (@saylor) May 9, 2022
I saw this tweet this morning and knew that I had to share it on here before the end of the day, it was too funny. The Wojak memes made cryptocurrency investors notorious for working at McDonalds after they took massive losses in the markets and now even someone who is supposed to be the pinnacle of Bitcoin investment has made the concessionary self-roasting joke that we are down huge sums of money in USD.
While this may look bad (and likely will continue to get worse), it presents a nice opportunity for those of us who are planning to continue investing for many years. I saw another tweet today which I agreed with that if you are between the ages of 20-35, this is probably the time of your life that you will have the best opportunity to build a portfolio.
The average American sees around 2 recessions and 1 depression during their lifetime, and though we can't be sure which of the two we are going to see, it is a fact that the markets are currently in free fall. This is looking to be worse than what happened to the markets during Covid as this is being driven by faltering economies and monetary policies rather than a world pandemic we are reacting to. This is the end-product of stimulus and misallocation of tax-dollars paired with massive inflation. Everything is setting up to hurt the middle and lower classes just as it always has and we need to be prepared to make moves with our money in order to not end up getting the short end of the stick during this cycle.
I think that if done right, this period of time (the foreseeable future in my opinion) can yield huge dividends down the road as all assets are looking much cheaper than they have been.
If we see Bitcoin dip below 20k again, I will be making a huge push to get as close to the 1 BTC mark as I possibly can. Though the short-term markets are looking red, we have known the markets to always correct themselves over time and we know exactly what Bitcoin will do in terms of supply in the future. Though price may be rattling the confidence of many, nothing has specifically changed in the cryptocurrency space.
Another upcoming catalyst may be some regulation coming to crypto, but that will present yet another buying opportunity if the price is pushed downwards.
If you believe in the technology, you need to believe that price will inevitably follow. We'll see what happens in the short term, but try to think about what is coming in the next 10-15 years!
Good luck!
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My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
