I have a friend who bought bitcoin during this peak season. When the bitcoin price was 18-20k USD. Now he is sad and disappointed seeing that the current price has dropped to 50% and more and he is afraid he is going to lose all. In short he lost his hope and faith in bitcoin already. Has anyone here did the same as he did? If you did invest in that amount what did you do to your bitcoin, did you sell it or still holding it?
I purchased my Bitcoins in 2012, when the exchange rates were around $10 per coin. I feel bad for your friend, but please tell him that he needs to be more patient. Bitcoin is just like any other investment. There is no guarantee that you will get a positive return. But if you hold on to your coins for at least 2-3 years, then the chances are that you will get a good profit out of it.
How likely is it that Bitcoin will reach 1M dollars in a couple of years if we take your 2012 price as a basis for our calculation? I don't think that very likely. In my view, waiting patiently when the price has already eaten away over 70% of your capital is not a very wise idea all in all. You have to be proactive because otherwise you are set to turn into a bag-holder one day. And this day may have already come. In general, it is not a matter of luck or lack thereof. Rather, it is a matter of statistics and time.