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If you’re new to the blockchain-based currency markets, it’s hard not to get disappointed. Almost a month ago, bitcoin was decisively heading toward the $14,000 level. But a sharp bout of selling pressure quickly unraveled the rally. We saw another burst of bullishness two weeks ago, but that too end with severe crypto volatility.

Now at the time of this writing, bitcoin gave up the $10,000 mark. That’s an especially critical loss as the five-digit benchmark represents a key psychological level. Indeed, the steady run up in the first half of this year had $10,000 in mind. In my opinion, once we’re at this level, it opens the door to other insane targets, such as the all-time high of nearly $20,000.

Back when bitcoin passed the $5,000 level and marched higher, I knew that we’d see the return of five digits. While cryptocurrencies obviously epitomize transformative technologies, what drives their valuation comes down to old school dynamics: I’m talking about pure human psychology.

Put another way, very few folks from the mainstream are putting money into cryptocurrencies because they believe in the underlying blockchain innovation. Instead, they want to make a quick buck, and I don’t blame them.

But with a market under such extreme emotions, crypto volatility is unfortunately inevitable. Still, during this turmoil, I wouldn’t lose sight of the fundamentals.

 

Crypto Volatility Just a Distraction

With bitcoin dropping from approximately $13,700 to $9,800, crypto volatility has a painful metric: a stunning loss of 28.5% in just under a month.

In the “regular” markets, that’s called devastation. However, in the world of cryptocurrencies, this is merely a rounding error.

Now I don’t mean to be flippant about the matter. Certainly, many folks have absorbed paper losses – and perhaps real ones if they panicked – in the past 28 days. Stuff happens. But I wouldn’t let this series of incidents deter you from a potentially life-changing opportunity.

crypto volatility

On a long-term logarithmic scale, the crypto volatility we’re experiencing now truly is a rounding error. If the bulls take control of this market, we could easily see a return to $20,000 bitcoin and beyond.

And that’s because the fundamentals are incredibly favorable to cryptocurrencies. The crypto volatility only serves to detract from the major point that world currencies now have viable competition. For example, what has driven crypto crackdowns throughout the world is fear: fear that one day soon, people won’t need fiat-based currencies to conduct transactions of value.

Therefore, don’t let this heightened environment affect you. The worst thing you can do right now is panic and give the central bankers exactly what they want.

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