Bitcoin is an easy market.

I know what many of you are going through right now. Even though it hasn’t been the coldest winter than we’ve been through, this one surely feels much longer. I will share one of my stories and I hope cheer you up or you could learn something, or whatever.

Bitcoin is an easy market. Because it’s full of people with high time preference and weak hands. Thanks to that, there are many opportunities. To avoid being a victim of FUD, you really should educate yourselves.

Remember the China ban? That day the price went down like 35-40%. Lots of fear I recall. The fear becomes even more stronger when the media starts playing you.

Unfortunately, many people who did not see the essence of the news sold at loss.

I was still at University back then. I bought as much as I could using all my living allowance. Why? Because the China ban was GOOD NEWS.

One of reasons why Bitcoin has high volatility is that there are people who mine Bitcoin for much less than average miners.

As all power plants runs by state in China, there are many corrupted officials selling electricity much cheaper than the established market price and also people stealing electricity. These are considered to be abnormal transaction in the market. And these people tend to be able to sell Bitcoin for much cheaper price when the market tanks, thus, leading to stronger downward price action.

China ban was one of the best thing that happened to Bitcoin ecosystem. It’s too bad they are mining again.

Anyway, this is one of many examples. Many overlook the importance of truly understanding the asset. Holding becomes much easier once you really know what you are invested in.

Don’t be afraid. Don’t be weak. Keep educating yourselves. Don’t let big players bully you and drop your stacks. Thank you for reading, my friends.

D