Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?
In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?
Of course, it will still come back to the digital gold narrative and people will forget this dip, just like how people forgot about that $3K dip back then. Yes, it would ruin some people’s portfolios, but with due diligence, they should know what they’re getting into. Like the famous quote says, “Be fearful when others are greedy, and be greedy when others are fearful.” If Bitcoin ever dropped to $500 again, it would be seen as the buying opportunity of a lifetime for those who understand its long-term value.
Many would panic, but smart investors would accumulate silently. History shows that the strongest gains often come after the deepest dips. Even if you fud it, there will be some silent buyers in case it pumps again, so if 50% of the people have the same thinking, then it could go back to what it deserves and play the digital gold narrative again.