People are throwing themselves out from windows due to the latest foray lower by $BTC into the depth of hades. While amusing to see, I wanted to illuminate some inexorable facts about asset prices: at times they trade lower.
With $BTC straddling $58k, it is already down 8.2% for July. Last year it was down 5.2% for July and back in 2016 it was down by 10.3%. Last year August it fell again by 10.4% and in 2016 by 5.3%. Bitcoin bounced in September of 2023 and 2016 by 4.7% and 7.3%, respectively. And then they absolutely busted loose in October by 27% and 18.6%.
The point I am making is, do not be deterred by short term movements for a long term idea. Also, don’t view every dip as an opportunity to buy. The best way to deal with a volatile asset is to dollar cost average once per month. And, don’t ever jump out of a window because you lost money. Look up at the sky and the trees and see how beautiful it all is and go to the gym instead.
Have a happy 4th.
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