Don't think we can pass previous ATHs? Think again.
The crash from Jan to Mar was brutal, but it was a necessary bloodletting. We are more stable and less likely to drop below today's prices than ever before. Why?
For every sale of a coin in panic, there is a calm buyer on the other side of the table. Who is the buyer? It could be someone who already holds some of the asset and is looking to leverage into more. They believe in their asset long-term. It could also be someone watching from the outside who feels like they missed out, and they are finally getting their opportunity to join in. Either way, the buyer is buying because they believe this thing is going one way… up. Typically not today, not tomorrow, but in the long term. They believe. That’s why they are buying it.
For for the new buyer, this is their ground floor.
So the crash did a few things… first, it showed people that the general consensus had instantly become “this thing is overvalued”, and second, it shook those people out of the tree, and it replaced them with firm and strong holders. It is these new holders who will propel us to knew heights.
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