Topic: 4 years ago, WHO announced the pandemic, whole markets crashed - page 2. (Read 210 times)

Same, thankfully, I don't even touch my bitcoin holdings; in fact, I do DCA while it is pandemic and the price of bitcoin at that time is lower compared to now. Imagine how much I earn, but still, I don't sell any of my bitcoin holdings because I know the actual bull run is still not in place. What is happening now is just because of the halving event and also because of the ETF approval. I managed to accumulate more bitcoin in the pandemic because I do online jobs. After months of the pandemic, I managed to land different side jobs done only and also crypto currency stuff. I also added that NFT became in demand during the pandemic, so there's no need for me to sell my bitcoin in order to survive. We can't blame those who forced to sell their bitcoin because we know how hard we gone through during pandemic.

This is what I felt frustrating now seeing the Bitcoin price claimbing 72k and going
more while those days of pandemic I almost withdraw all the bitcoin and altcoins just to
survive for those more than 2 years of having no Job at all.

But this thread also remind us that we must never let go of our bitcoin whatever
happens because seeing it growing each time now makes us understand the potential in
the next 10 years again.

I mean there were just too many things that are affecting the market price of Bitcoin and even though we all believed that Bitcoin was going to reach a certain market price in the value the truth is we dont really know what is going to happen, We could make this whole pandemic thing as an example, no one really expects for it to happen at times like that, Something could easily appear again making the market drop we just doesnt know how could come up that easily that could make the market down, its surely great to see Bitcoin recover and now reaches a new all-time high.

It is still a very risky market overall, the Bitcoin ETF surely has a huge effect, the market is buying the rumors as well as increasing its market price, Bitcoin ETF surely bought a lot of Bitcoin but still, it wouldn't going to make you a bagload of money, because the market price is just too high already, we can already see a huge slow down as when Bitcoin is just getting started in the market, We already see it skyrocket up to 1200$ which could give a huge profit to those early investors but buying the Bitcoin today around 70k$ is going to be a different story, I mean if the Bitcoin reach about 150k$ that is just going to be around x2 of your investment which is going to be a small up on the value considering altcoins in the market could profit up more than 1000%.

Still would continue to invest in Bitcoin since it is the safer investment compared to others, the best strategy is to invest in other potential tokens as well with only a small percentage to still make a possible huge profit with very little risk.

The 1400% return on investment sounds better when you devide it by the 4 years. It is 350% return on your investment per year.... which is almost 3 times more than what the S&P 500 achieved over the 4 year period.

The thing is, not a lot of people had the balls to buy those cheap coins during the price crash. (I did and I am smiling from ear to ear)

Not just Bitcoin! The entire market came back up now. I know a person who used to be my colleague in 2020, is not living a worry free life and had taken retirement in December 2023 at the age of 38. Just because he had invested all his life savings in the stock market when the market crashed. Opportunity often knocks on our door, but we fail to recognize it. That fellow did and was able to save so much money that he doesn't need to worry about finances for the rest of his life.

Same happened for Bitcoin as well. I hope some of you had invested during that time and was able to gather a huge amount of sum for a worry free life.

There is light at end of a tunnel all one need is petiant buy and practice long term holding, WHO pronouncement has a huge effect to course ATL on Bitcoin and many other factors such Russian and Ukraine war even others wars and economy shift.

But this is the time Bitcoin will regain all loss energy course by the pandemic and some of war and economic shift as many nation and citizens has override the emotional feeling of the effect the attack.

Those who practice long term holding is time to know that long term investment yield better than short, the benefit of courage and patient in any investment can't be overruled when it comes to huge profits making.

To be clear that drop had nothing to do with the pandemic nor did it have anything to do with other markets crashing. It was all about the economy crashing. To be more specific it was the recession that led to bitcoin price dropping too.

That's the same reason why this current rise was postponed this much. All the conflicts over the past 2 years and crisis that followed caused recession that prevented bitcoin from rising. Even though recession is not over and it still is creating sell pressure on the market, but the demand has risen so much that is currently countering that.

The pandemic wasn't all that bad to bitcoin too because even during the pandemic, the price was still able to continue surging in prices despite the fact that people are still locked out, the cash injections by a lot of countries to help with the pandemic actually helped because it's free money that led to more people investing into bitcoin that money although not all of them did invest so one can only imagine if everyone who received those cash injections bought bitcoin too, we would've seen much higher all time high at that time.

I hope that's the case, a good end cycle but still we have to be prepared for the worst, after all, bitcoin is still as volatile as ever so even what we hoped for or predict to happen, we're still going to be surprised with what happens next.

Yes it was a crazy time. Who remembers Bitmex back then?

For those that don’t know it was the largest perps swap exchange at the time. And there was massive massive liquidations. It got so bad that the owner basically shut down the exchange because if he didn’t it would of collapsed to $0.

Most likely other exchanges would of been fine but the arbitragers would of kept hedging and dumping on other exchanges. It was a crazy time.

For the next few days the exchange had a huge discount relative to spot. I think something like $500 or so. That sure was a crazy day.

They announced it in 2020 and the market crashed at that time. In the next year Bitcoin outpaced the American stock markets in terms of price and created a new high. A lot of credit were given to institutional investors at that time. Which was correct as there was a sudden spike in Bitcoin price at that time. Today we are experiencing the same thing happening again and a lot of credit goes to the spot ETFs. After the halving events we can expect more as after halving less Bitcoin will be mined and the demand will increase.

The price dropped to approximately $5K at that time. Seeing that it's at $72K it's about a 1400% return in 4 years, not bad. For comparison, we can note that the S&P 500 had a return of 125% in the same period, which is not bad but far from the Bitcoin return.

This end of cycle can make us optimistic after the disappointing mid-cycle returns.

4 years ago, on March 11 2020, WHO (World Health Organization) announced that the outbreak from Wuhan, China, officially considered as a pandemic, named it as Covid-19.
https://www.who.int/director-general/speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on-covid-19---11-march-2020

After that whole markets globally crashed. Bitcoin crashed too.

4 years later, we have a new all time high for Bitcoin, above $72,000.

Hold your bitcoins, Bitcoin Spot ETFs will make you richer if you can hold your bitcoins.