Crypto Winters Have Been Great Times to Buy. Today, Bitcoin Is Half Off

Some of you may remember the “crypto winter” of 2018. Bitcoin crashed 25% in January of that year, while Ether saw three straight months of double-digit losses.

Even though we’re entering the summer months, we may remember this past week as another great crypto winter. The entire digital ecosystem fell under selling pressure, with LUNA leading the way. The algorithmic “stablecoin,” which was designed to remain pegged to the U.S. dollar, effectively lost all of its value in one of the swiftest, most brutal wipeouts I’ve ever seen.

Meanwhile, shares of crypto exchange Coinbase, which went public in April of last year, have fallen around 85% from their high set in November 2021, when Bitcoin topped at $68,900.Share of coinbase melt down on crypto rout

As alarming as this all sounds, I don’t believe now is the time to panic. Past crypto selloffs have been much worse, as I’ll show you in a moment.

Just as they did in those past instances, critics of Bitcoin and crypto in general are already taking victory laps and penning I-told-you-so op-eds and Twitter threads. You may have come across a few yourself.

But had you bought when they were celebrating, you would have seen some remarkable returns. At the end of 2018, Bitcoin was on sale for as low as $3,200. Even at $30,000, which Bitcoin is currently trading at, that’s an increase of nearly 840%.

Having this level of conviction is tough, but occasionally it can be very rewarding.