I just got back from seeing a friend. He's been in and out of Bitcoin since 2017 (lost money of course). Did the usual what about these shitcoins thing, which I dismissed as well as I could. Anyway he said he has been trying to withdraw as much equity from his home as he can for the last several weeks. Should get it in a week or 2. He then says he was going to buy bitcoin with it when it was in the 50s and now he's really glad that it fell because he's going to be able to buy much more.
He agreed with me that holding was the way, lessons from past sales learnt.
Foolish, I will say though that if you are in your 20's go for it lol... you can recover from losses in your early years and learn a lesson, not in your later years (50 +)
someone bought at $60k +, wonder how they are feeling right now
If they're thinking long-term, they'll be fine. Most people know now that the system is screwed up and the only way to protect yourself is with assets. My friend (30s) understands this. Anyone who use home equity before has made returns that far out weigh the returns they would have got in property. Bitcoin is still small enough to offer better returns over most assets.
And with home prices where they are nobody is going to be paying off their homes anymore anyway, at least this way he has a chance.