You’d Think That Crypto Is Dying Because of Bitcoin’s Drop, Yet I Am Getting a Client Surge

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You’d Think That Crypto Is Dying Because of Bitcoin’s Drop, Yet I Am Getting a Client Surge
You’d Think That Crypto Is Dying Because of Bitcoin’s Drop, Yet I Am Getting a Client Surge
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It’s summer. This incredible season brings warmth (sometimes scorching heat) and many other exclusive perks and products. For instance, one of the things I love that shows up in summer is watermelon. It’s not around most of the time, then spreads everywhere during summer.

What I’ve noticed that have similar behaviour to watermelon are some cryptocurrency critics. When crypto’s performing normally, they remain dormant. However, with every 10% decline, their voice gets louder.

Before you know it, summer will be over, and the watermelon will be gone (till next year.)

Recently, Bitcoin dropped under $20k. Of course, this resulted in many comments about people losing faith in the whole cryptocurrency market (Ignoring the fact that many of the most successful companies lost a tremendous amount of their value, similar to Bitcoin.)

What is surprising to me, however, is people’s behaviour. Reading the news and the posts of many people, one would believe that people are afraid to engage in the crypto market.

However, I’ve noticed quite a surge in requests from clients who want to operate in the crypto & the NFT space in these days.

While I’m not a good quantitative representation of the whole market, I was nonetheless impressed.

Imagine having a paper bag containing some grapes, apples, and bananas. Then the bag got punctured somehow and had a hole.

  • Gravity will pull everything, regardless of the type of fruit.
  • Grapes are smaller in size. So you will lose more of them.
  • The hole will increase in size with each drop till some apples and bananas would eventually fall.
  • This will keep happening till you find a solution.

This is investing nowadays. Grapes are more like cryptocurrencies. In comparison, apples and bananas resemble real estate and the stock market. Since those fruits are just being wasted, the shop is offering them at a discounted rate because, the truth is, the hole has not been fixed yet.

Here are a few figures to get you updated:

  • Crypto’s market cap fell to how it was at the start of 2021.
  • The S&P 500 index, similar to cryptocurrency, also declined to how it was in December of 2020.

Hence, I have massive respect for new clients that come to me nowadays to work in the crypto or the NFT market simply because most people are scared and wouldn’t have the guts to approach this market nowadays.

If Warren Buffet is advising to buy in such a declining stock market (not directly the crypto one, though), then the least a person could do is consider that option and evaluate.

Whether the price of Bitcoin goes to $0 or to $500k, before going to that friend of yours who lost money and saying, “I told you it was a risky investment, listen to me next time and keep your savings in the bank.”, remember that your friend has the guts to invest in something risky.

If it were not for such risk-taking:

  • Steve Jobs would’ve given up on Apple and became satisfied with his Pixar work. Instead, he took a risk by working with a company on the verge of failure and turned it into one of the most valuable companies.
  • Elon Musk could’ve sold Tesla to Google a few years ago for $6 billion. Yet, due to a profitable quarter, he took a risk, and their market cap nowadays stands at $673 billion (Space X had an even more considerable risk.)
  • Oprah could’ve given up after being demoted from co-anchoring the news, yet she took a risk by doing what she did best and made history.

So, when you meet your friend, tell them, as Jobs would say, “Here’s to the crazy ones.”

Throw a stone in a pond, and it will start generating waves around it. If you jump into the pond, get out the rock, and start showing problems with the stone itself, then you missed the point.

The rock produced waves that produced other waves. The cryptocurrency market is not the price of Bitcoin. Its beauty is the waves created from that Bitcoin “stone”.

It raised the bar for the whole financial, investment, and data privacy worlds, amongst others.

One needs to be aware of the facts in our world. Yet, also needs not to get affected by popular opinion.

Popular opinion led you not to buy cryptocurrency when it was cheap. Popular belief kept convincing everyone to get into the real estate market leading to a financial crisis.

This reminds me of an interesting read, “Stop Reading the News by Rolf Dobelli.”

Remember that most recessions end up with someone being a winner. Someone will make money while others will lose.

Some would win by getting offensive and aggressive in investing, while others could win by evading mistakes and getting on the defensive route.

However, a true winner does not follow public opinion.

Important note: this is not financial advice; it’s merely explaining a behaviour when it comes to investing that, according to research, results in better numbers in the long term. The reader has complete responsibility and should seek professional advice before investing in an option that is a high risk, such as stocks.

I’m Al, a business consultant in Zurich, Switzerland. I believe in the power of delivering value to you, the reader. Follow me on various social media platforms if you’re interested in the value of my content.

Go to Publisher:

Entrepreneur's Handbook – Medium


Author: Al Anany