Bitcoin has crashed down 82 percent from its all-time high at $20,000 in December 2017. Currently, it is trading at around $3,460 as per the data provided by Coinmarketcap and it’s a likely possibility that it will retouch the mid-December 2018 low at $3,150.
As a result of this Bitcoin price crash, many people ended up losing millions of their investment. Many lost all their savings while some took up loans and lost them in the crypto market.
Talking about when he first got into Bitcoin, he started accumulated from early 2013 till 2017,
“all bought and traded around to 100 Bitcoins.”
After the accumulation, he got indulged in a copious amount of crypto trading that especially involved a Russian crypto gambling and trading site. From here, he
“traded all LTC I bought there to BTC and send it to myself 2 weeks before the site was shut down. At the time that was around 17 Bitcoins. Never leave your coins in an exchange.”
Then in 2017, after getting more involved in trading ”real money for some Coins I had a + of 2.350 Million Dollars.” During that time, he didn’t sell anything but his investment of about 90k. The primary reason for this, according to him was the tax that would have amounted to 400k which he apparently wanted to avoid.
This could have been a bad move but as he said,
“If I always had done everything from the book I would have never had such an uprising.”
Redditor, bitcoin234142 isn’t new to the crashes as he points out in his post that he has witnessed the crash about 5 times already. Now, in January 2019,
“I still have around 400.000 Dollars in Crypto, paid my taxes I owed from Crypto and I am very fortuned in life in general, so I guess I don´t mind as much as I should.”
“Nothing Changed, It Just Got Better”
As for why is he still holding given the fact that Bitcoin has crashed 82 percent, he says,
“After seeing the manpower that was poured into Bitcoin and Blockchain development, the Education that was offered and the overall praise of Bitcoin in general – I want to hold.”
And well, of course, Bitcoin believers have faith that bulls will be coming and a new peak will be achieved sooner or later with all the attention on the upcoming halving in 2020.
“I believe with the next halving in May 2020, the real Bullrun will come if the Stars align. When some form of governmental recognition and an easy to use application for buying is in place till then, we will see a hopefully meteoric rise. If average joe can buy Bitcoin easy with an App and the Media picks up the hype.”
However, he is not all positive and things it is possible that
“the damage is done and no one cares anymore.”
“Bitcoin is still the same it was one or two or ten years ago. Nothing changed, it just got better.”