After the Plunge, Why is No One Buying the Dip?
Perhaps it’s despair. After every plunge, most people feel that there is no hope for the market, and most are cutting their losses, with very few buying the dip.
In fact, the three most famous plunges
September 4, 2017; March 12, 2020; May 19, 2021
When everyone is cursing and cutting losses, what kind of retribution will you face if you go against the crowd and buy the dip?
In the week of September 4, 2017
Bitcoin fell to a low of $2,900, and if you bought the dip, it rose to $20,000 in just three months, almost a 7-fold increase in three months.
Ethereum rose from $200 to $1,400 in three months, over a 7-fold increase.
The gains from altcoins were similarly exaggerated.
March 12, 2020
Bitcoin fell to $3,800, and in just over a month, it broke $10,000 again, rising to nearly $30,000 by the end of the year, a 7-fold increase before the end of the year was like taking candy from a baby.
Ethereum fell to $87 and rose to nearly $1,000 by the end of the year, easily a dozen times.
Altcoins performed well too.
May 19, 2021
Bitcoin fell from $65,000 to $30,000 in a week; if you bought the dip, in less than six months, Bitcoin rose to nearly $70,000.
Ethereum dropped to $1,760 and rose to $4,870 in less than six months; buying the dip means making a profit.
Are you still afraid of plunges?
Plunges are the real opportunities.
