Not to mention all the celebrities who bought NFTs for millions, that are now worth only a tiny fraction of that. And it's not just crypto. There's a very long list of big names on Wall Street, still down more than 50%. And even in the world of finance and banks. If you bought during the bull market and are still in the red, here's what gains you need to recover for your losses: If you have 50% or less in losses, at most, you'd need prices to double from here to the next bullrun. We've seen how this volatile market does during bull runs. Even for people who bought the very peak of Bitcoin, you're not even far from the halfway point. Bitcoin just needs to break above $34K. If you have an alt-coin still down more than 70%, it's a big hill to climb. The silver lining is alt-coins can have much bigger price jumps during a bull market. If you need a 4-5x to break even, it's something that can be realistically expected from an alt-coin in a bull market. Even if it's a shitcoin that should have died already. We've seen how of the shit projects that had issues, even the ones that had 51% attacks, managed to see big rallies during bullruns. Some of you may actually be in the green now. Especially if you're not new, and bought before the last bull market. Or you may be part of a growing number of people who bought during the bear market, and are increasingly seeing more green. Even if you're still in the red, if you dodged most of the coins that collapsed, the failed exchanges, the hacks, and the guy from Hyderabad who tried to phish your private key for the 100th time, then you have navigated your bags to the other side of this hurricane of a bear season. [link] [comments] |
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