Is This the End of the Bull Market?

Is This the End of the Bull Market?

No matter how many times I’ve seen my crypto positions get temporarily demolished by market volatility, it always “feels” like this time is different. And there could be no way for them to recover.

This is exactly what I went through in 2016-2017 after I recommended bitcoin (BTC), Ethereum (ETH), Monero (XMR), and many other altcoins.

When I first recommended bitcoin in April 2016, it was trading around $400.

Shortly after that, one of bitcoin’s core developers quit. He called bitcoin a failure and sold his entire stake.

Bitcoin dropped into the $300 range.

It sure “felt” like the end to me. Fortunately, I didn't let my “feelings” run my investment decision making. Instead, I relied on my research. And my research told me bitcoin was wildly undervalued.

So I continued pounding the table… Telling people to buy bitcoin… And predicting it’d be worth thousands of dollars.

People thought I was mad, delusional, or just plain dumb. I got hate mail by the virtual truckload.

It’s not that I didn’t care about the hate mail. It’s that I cared more about helping as many people as possible see what I saw: An unbelievable opportunity to help transform people’s financial lives.

That’s what drove me through the volatility and the ridicule.

I knew I was right. And that anyone who listened to me would have the chance to completely remake their financial life for the better.

For those who stayed in bitcoin, they were soon rewarded. In five months, bitcoin more than doubled – jumping from $300 to over $765.

You can guess what happened next… Bitcoin dropped like a stone. By late summer 2016, it had fallen to about $550.

Like today, the headlines were full of negative news. I was getting savaged by internet commenters, readers, and some of my old Wall Street colleagues.

Again, I got a stream of rough emails. Yet, I maintained faith in my research.

Like today, I told anyone who’d listen that bitcoin is a unique and incredibly undervalued asset. And as more people adopted bitcoin, it’d skyrocket in value.

Only a small group of subscribers were on board with me. They trusted my research. And of course, their faith was rewarded.

Seven months after the bitcoin halving in July 2016, it ran to about $1,100… And it was well on its way to $20,000 within less than a year.

But as you can see below, it wasn’t an easy ride to the top. We had to go through eight drops of 30% or more to get there.