The sky is not falling, at least not yet

Bitcoin had been having a stellar year, but now everyone is talking about new lows after we started dipping for a bit.

However, even after the dip, bitcoin is still having a solid year, especially compared to other asset classes.

It's doing much better than the stock market and still solidly in the green for the year overall.

It's funny though, every time bitcoin dips we see and hear stuff like this:

(Source: https://redoubtnews.com/2017/11/sky-falling-climate-change/)

I can't speak for everyone, but I do know that when I have sold during dips, it has usually been the wrong move...

This could be the start of a new longer term bear market of course, but that doesn't jive with everything else we have going on...

For example:

• The halving is only a couple months away.

• The FED is talking about printing more money and is already lowering interest rates.

• This is an election year, so the government is less focused on bitcoin than prior years.

• Bitcoin broke above its 200 MA (though currently cut back through it)

(Source: https://www.reddit.com/r/Bitcoin/comments/797l99/so_true_i_sold_at_3k_4k_5k_regrets/)

A major caveat...

There is a bit of a black swan lurking out there with the coronavirus though, and that may trump everything else depending on how bad things get.

Either way, history has shown us that if you hold long enough, you eventually get rewarded, even after the black swan rears its ugly head.

Hopefully that pattern keeps playing out here!

Stay informed my friends.

-Doc