Not going to lie, falling from $109,000 to $78,000 was rather unsettling, for me at least. I know we’ve HODLED through similar and even worse corrections in previous bull markets, percentage wise. But for me, it feels a lot worse when you’re watching your net worth dump by so much money. The money involved now is so much more than it was when our coins were losing $40 each per day or something at the same % dip as we saw from $109,000 to $78,000.
I am hopeful that we don’t go below $80,000 again in this bull run now. As some have said already, March 7th could be just what we need to catapult us towards the next big leg up. As Trump’s Commerce Secretary Howard Lutnick said -
“The President definitely thinks that there’s a Bitcoin strategic reserve,” Secretary Lutnick told The Pavlovic Today. “Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.”
“A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday,” Lutnick said.
“So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently,” he added.
https://thepavlovictoday.com/howard-lutnick-reveals-trump-to-unveil-bitcoin-reserve-strategy-at-white-house-crypto-summit/Let’s get ready for fireworks, thie bull party is about to start. Strap in boys, it’s going to be a ride you won’t forget.
An interesting observation.
Physhologically, I felt a 'pinch' too, without rushing any coin for a sale, though.
My self-explanation was that 'it was too soon'.
People still remember the awfulness of a 69->16K move and they definitely don't want to experience something like this again.
Second, it felt that we 'deserve' something better than 9K difference between the top in 2021 and the recent dip..but, bitcoin does not OWE us anything.
We are, of course, talking about a nominal value that those large % swings bring.
However, the coping mechanism is NOT to translate these btc %% moves into $$/pound/euro value...in your mind.
Finally, it looks like Blockstream is coming up with 2-3 funds that can help one cope; first would put your btc in a multisig and 'give" you a small yield in btc (2-4%).
I know, we were there before with "lending' companies. The difference is in multisig..they cannot lose your btc or re-hypothecate it 'cause you have one of the keys. Where the yield would come from-probably from margin interest (they will lend btc to ETFs, presumably).
Second:a fund where you can borrow $$ against your btc (up to 50% of value). Third-is an alpha fund where you gave them your btc and they could "trade" it around-supposedly with up to 18% return-this is just like a regular hedge fund, but you load it with btc instead of $$.
https://blockstream.com/finance/