400 days since BTC All Time High (ATH) at $19,892. Price is at 82% Discount. Would (young) Warren Buffett get greedy?

in #cryptocurrency6 years ago (edited)

Steep market cap declines have occurred throughout the entire crypto space in the past 400 days, since BTC reached on ATH of $19,892 on December 17, 2017. Since then, other coins have dropped to ~90% of the ATH prices (LTC, ETH, XRP).

However we need only remember the quote that always bears repeating

“... try to be fearful when others are greedy and greedy only when others are fearful”. - Warren Buffett, 2004

ATHchart.png

Something to remember: During the peak prices of BTC, late 2017-early 2018, everyone and their cousin wanted cryptos in their stocking (paying ~20k/btc). Media reporting of cryptos was relentless, and as the price correction came (as it always does), attention decreased, as did the price of BTC.

Presently, we are looking at very little media coverage, Google trends index is at 8% of what it was during the BTC ATH.

However, interestingly enough, Africa ( the world's fastest growing continent) make up three (South Africa, Nigeria, and Ghana) of the top five searchers for "bitcoin" on Google. Thus much of today's interest in bitcoin comes from abroad, in some of today's fastest growing societies and economies.

GoogleTrends.PNG

Where is the US on the "bitcoin" Google Trends list?

GoogleTrends1.PNG

When crypto interest reignites in the US, will you regret being fearful when others were fearful when BTC was trading <$4,000? Those that weren't greedy when the majority were fearful, cannot be fearful (and take profits) when the majority is being greedy.

Happy Trading,

PS

Disclaimer: This is not financial advice. Please do your own due diligence as cryptocurrencies are still very speculative investments. Please only invest what you can afford to lose.

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