MINUS 70% IN A YEAR AND A HALF - IS IT A FAILURE OR A HEALTHY CORRECTION?
According to public information, in 2014 the well-known Changpeng Zhao (#CZ ) sold his apartment in Shanghai and bought #BTC for about $600. At that time, there were neither #ETF , nor institutional investors, nor large exchanges, nor any guarantee that Bitcoin had a future at all.
And in the classic genre - almost immediately after the purchase, the market went into a deep drawdown. CZ's portfolio, estimated at around $1 million, decreased to ~$300k. A year and a half of "an exciting journey" and a significant loss in dollars, with all capital in magical internet money.
The screenshot captures that period from 2014 to 2016. At the moment - "obviously a poor decision", with time, in the long run - a genius, a capital base of hundreds of millions of dollars.
In this market, there are no people who earned serious money and have never gone through what we are observing right now. Probably one of the main differences between the wet fantasies of all those dreaming of getting rich and real practice.
