Should You Be Worried About The Bitcoin Price Crash?
READER NOTE: On Monday, 12/30, I am hosting a free webinar for anyone trying to transition into a new job in the bitcoin and crypto industry. Previously, my team and I have helped more than 3,000 people find a new role, so I will break down the lessons learned and provide specific and actionable advice on how to make the jump efficiently.
The event is completely free. I will be joined by a panel of people from across the industry who will share their experience in finding a new job. This event will be high-value and packed with important information.
To investors,
Bitcoin has fallen from $106,000 to about $93,000 this morning. People are freaking out. The public narrative was bitcoin would go higher through the end of the year and markets don’t like surprises.
But everyone should calm down — this is a bitcoin drawdown for ants.
Earlier this year, we saw bitcoin fall from $72,000 to $61,000 in a matter of days. I wrote on March 20th “bitcoin is currently experiencing a drawdown of ~ 15% from the recent high. While this may seem like a large percentage, it is actually quite small compared to what we have seen in previous bull markets.”
It is important to understand the same thing is happening right now. Bitcoin has fallen about 15%, but that is actually a much more muted drawdown than we have seen in past bull markets.
Alex Thorn, Head of Research at Galaxy, has pointed out that the last two bull markets have consistently seen many similar drawdowns. In 2017, there were 13 different drawdowns of more than 12% as the price increased ~ 20x throughout the year.
In the 2020-2021 bull market, there were at least 13 different drawdowns of 10% or more.
To take the analysis even further, this current drawdown is not even the worst drawdown of the current bull market. You can see in this chart from analyst Jelle that there have been four drawdowns of at least 20% so far in 2023 - 2024.
On the left side of the chart above, there were 7 pullbacks of at least 30% in the 2017 bull market. In the middle, there were four drawdowns of 23% or more. And the average drawdown in each bull market, including the current one, is 21% or higher.
Bitcoin is a volatile asset. If you want to enjoy volatility to the upside, you have to stomach the volatility to the downside.
Wall Street is being introduced to a truly free market asset. There are no hours of operation. There are no circuit breakers. This asset trades based on global supply and demand. It goes up a lot. It goes down a lot. But over time, it has continued to outperform almost every other asset in the world.
A common phrase in finance is to “know what you buy.” Bitcoin isn’t your grandpa’s stock index. This is a new digital asset that is being re-priced by hundreds of millions of investors around the world.
Volatility is necessary to get to where we are going.
And the best part? The great investors seek out volatility. They understand that asset prices don’t go up in a straight line. It is understood that you don’t try to trade assets like this. You simply buy them and hold on.
And that has been a great strategy for bitcoin over the years. I don’t see that changing any time soon.
Take a deep breath. Drawdowns are normal. This one is a drawdown for ants. The world will keep spinning. Bitcoin will keep producing block-after-block of transactions. And we’ll likely be back to new all-time highs before you know it.
Hope everyone has a great end to their week. I’ll talk to everyone on Monday.
-Anthony Pompliano
Founder & CEO, Professional Capital Management
Phil Rosen & Anthony Pompliano The Fed & Bitcoin
Phil Rosen, the Co-Founder of Opening Bell Daily, and Anthony Pompliano, Author of ‘How To Live An Extraordinary Life’ and CEO of Professional Capital Management, discuss bitcoin, federal reserve, housing regulations, home affordability, why the market is telling the fed what to do, and why you need to become an investor.
Enjoy!
Podcast Sponsors
Ledger - Ledger secures 20% of the world’s digital assets. Upgrade to Ledger Flex and get $70 in Bitcoin.
Meanwhile - The world’s first licensed and regulated life insurance company built for the Bitcoin economy. Learn how to tax-optimize your BTC holdings for your life and beyond.
BetOnline is your #1 source for all your crypto sports and politics betting! Use our promo code POMP100 to receive a 100% matching bonus up to $1,000 on your first crypto deposit.
Gemini - The future is being built today. Go Where Dollar’s Won’t. With Gemini.
Xapo - Xapo Bank is the only way to bank with Bitcoin.
Polkadotis a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.
What could go wrong with a "currency" created out of thin air by using gigawatts of electricity to run computer calculations and get rewarded by something called a bitcoin???
http://disq.us/p/2x8u5r1
2008. White paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” published by an individual or group using the pseudonym Satoshi Nakamoto.
3 Jan 2009. The first Bitcoin block, known as the Genesis Block or Block 0, was mined by Nakamoto. This event marks the beginning of the Bitcoin blockchain and the cryptocurrency movement.
8 Jan 2023 "Satoshi Wallet" or "Genesis Wallet" still holds over 1 million Bitcoins, worth $50 BILLION USD in Jan 2023.
9 Jan 2023 Someone sent Satoshi's genesis wallet $1.2 million in BTC.
Simple:
NSA created Bitcoin
NSA owns the genesis wallet
NSA owns many other wallets
NSA uses many wallets to transfer money for their shady businesses
NSA agent made a mistake and sent money to the genesis wallet instead of others in the NSA list of wallets
Masons founded and still control all the intel agencies.
Masons will suicide Bitcoin as soon as they achieve a global CBDC: they won't need Bitcoin because that global CBDC will serve the same purposes (counterfeiting, laundering, bribing, paying criminals and traitors, planting money in innocent people's accounts, etc.).
Conclusion
Bitcoin is a psy-op proven to be developped by the NSA to allow the masonic intel agencies to launder billions of dollars without being accountable.
Sell all you've got ASAP: the NSA has more than enough computing power for a 51% attack, taking control of the blockchain (which enables them to doublespend, meaning spending your money).
No blockchain is safe against an NSA attack with current tech, least a quantum attack.
Also, no crypto wallet will work: they will require Government ID to access the net after the planned Great Hack, announced at the World Economic Forum.
They also plan a huge global financial crash, to install Central Bank Digital Currencies attached to the ban on bills, monthly carbon quotas, monthly allowance (Universal Basic Income), compliance with Universal Basic "Health" (depopulation contraception, abortion, haccines, baby quotas).
- Apart from sin-empowered demons, what is their main source of power? NOT a coincidence that the USA left dollar convertibility to gold in 1971, precisely triggering the exponential government deficit coupled with the trade deficit and inflation.
Taking down central banking doesn't solve the problem. Their source of free endless money is counterfeiting, fractional reserve banking and financial instruments (e.g. derivatives, debt over debt, compound interest above real growth, etc.). Also, insider information, sabotage, infiltration, manufactured news and events to create profitable market-movements.
This is the Achilles’ heel of all nations: the SSS (Satanic Secret Societies such as masonry) create trillions out of thin air and launder them through their Banks, foundations, and foreign loans and “aid”, with which they buy puppeticians and seats in the boards of the Federal Reserve (the only private-run Central Bank in the world), judiciary, corporations, media, healthcare, universities, foundations, political parties, etc.
While the majority of people keeps daydreaming, the masons’ worst nightmare is that people wake up, find out all the crimes, and seek justice. They are only 8000. We are a million to one. Until they achieve the CBDC digi-tatorship, they are walking a tight rope.
We've got a very small window of opportunity to fight or ... die (they want to murder 95% of us).
President John Quincy Adams: “Masonry ought forever to be abolished. It is wrong - essentially wrong - a seed of evil, which can never produce any good.”
Who are The Powers That SHOULDN'T Be ?
https://scientificprogress.substack.com/p/criminal-intent
https://www.coreysdigs.com/global/who-is-they/
Weaponization of Justice
https://scientificprogress.substack.com/p/weaponization-of-justice
Illuminati David Rockefeller, finest quotes:
https://scientificprogress.substack.com/p/david-rockefeller-illuminati
Confessions of ex illuminati Ronald Bernard:
https://scientificprogress.substack.com/p/confessions-of-illuminati-ronald
Illuminati Attali, finest quotes:
https://scientificprogress.substack.com/p/attali-illuminati-finest-quotes
Ex mason Serge Abad-Gallardo:
https://www.ncregister.com/interview/confessions-of-a-former-freemason-officer-converted-to-catholicism
16 laws we need to exit Prison Planet
https://scientificprogress.substack.com/p/laws-to-exit-planet-prison
Please share, not the articles, but the information! I'm expendable. Saving the free world, is not!
Healthy pullback