Re:Bitcoin falls below $5,000
by nostrademons on Monday November 19, 2018 @01:52PM
(#18488692)
The real stock market actually has those kind of moves, approximately once a decade. Peak Akamai, for example, was $327/share on Dec 1 1999. I bought in at $1.90 in May 2002, the bottom was $0.90 4 months later, and it's currently at $68.53. Folks who invested in the dot-com boom are still 80% underwater (much worse than any Bitcoin investor), while folks who invested 3 years later are sitting on a comfortable 60-bagger.
Investors in GM & Chrysler (considered blue-chip value stocks at the time) saw their investments go to zero when the companies declared bankruptcy in the 2009 Financial Crisis. The S&P 500 dropped 50% in the same period. PG&E stock dropped by 53% in one day last week when it was revealed that they may be responsible for the California wildfires.
Pretty much everything worth investing in is that volatile. You just either need to be greedy when other people are fearful and vice versa, or have long enough time horizons for it not to matter.
Investors in GM & Chrysler (considered blue-chip value stocks at the time) saw their investments go to zero when the companies declared bankruptcy in the 2009 Financial Crisis. The S&P 500 dropped 50% in the same period. PG&E stock dropped by 53% in one day last week when it was revealed that they may be responsible for the California wildfires.
Pretty much everything worth investing in is that volatile. You just either need to be greedy when other people are fearful and vice versa, or have long enough time horizons for it not to matter.