Tom Gentile’s Playbook for Crypto Market Chaos
Any market analyst that called the end of the bear market last week was humbled by crypto over the weekend.
In the past five days, Bitcoin (BTC) has dropped by more than 20%. But the people exiting their crypto positions right now really aren't read up on their crypto history, because we've seen this movie before.
In January 2019, one BTC cost less than $4,000. By March 2021, it had increased to $61,000, and investors were giddy with gains. By July 2021 its price was cut in half to $31,000 again, then shot back up to almost $70,000 at the crypto peak in November.
In the past five days, Bitcoin (BTC) has dropped by more than 20%. But the people exiting their crypto positions right now really aren't read up on their crypto history, because we've seen this movie before.
In January 2019, one BTC cost less than $4,000. By March 2021, it had increased to $61,000, and investors were giddy with gains. By July 2021 its price was cut in half to $31,000 again, then shot back up to almost $70,000 at the crypto peak in November.