The Bitcoin Vultures Are Back

Bitcoin is getting pummeled. It has collapsed 52% from its all-time high of $126,000 set late last year. And the vultures are flying overhead, declaring bitcoin “dead.”

It happens in every bear market. Since 2010, critics have declared bitcoin dead 467 times. And every time, it comes back stronger.

If you’ve been in these markets for as long as I have, you already know volatility is par for the course in bitcoin. It’s the nature of the asset. It’s the admission price for life-changing gains.

But if you’re new to crypto, it probably has you second-guessing your decision to own bitcoin. That’s why I want you to take a look at the chart below.

Every circle represents an instance where naysayers announced the end of bitcoin, going back nearly two decades. The green circle marks where we are today…

Like clockwork, naysayers are out again.

Since the end of January, author Nick Huber has said he “can’t see any reason” why people would hold bitcoin. Bloomberg reporter David Pan claimed bitcoin has “failed.”

And conservative talk show host Buck Sexton is “certain that Bitcoin has no long-term value, and a floor price of zero.”

But here’s what the naysayers are missing, and why you should ignore them: If you’d put just $100 into bitcoin every time it got an obituary, you’d be sitting on $69,194,667 today.

That’s a 149,759% gain. It would take more than 74 years to see similar returns in the S&P 500.

Now, I want to be clear: We’re in a crypto bear market. And we could see bitcoin prices drop much lower from here. That’s just the reality of investing in this asset class. You can’t have euphoric highs without some nauseating lows.

I don’t have a crystal ball to say how long it will take before the next bull market lifts off. But I’ve been through several gut-wrenching drawdowns like this, so I feel your pain.

That’s why today, I want to share with you what I’ve learned from Daily editor Teeka Tiwari.

His lessons have gotten me – and thousands of his readers – through every crypto bear market since 2018. It’s what allowed me to go from six figures in debt… to seven figures in the bank.

You’ll want to keep this essay handy. Because, as Teeka showed you in last Monday’s Daily, there could be more pain for bitcoin investors in the weeks ahead.

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