Trading Memories - Bitcoin March 2020 Crash

Recently I've been reading inspirational, encouraging posts about how to deal with bear market conditions.

I would say that some people can cope with the losses better than others cos they might have been through it before or just have that understanding of cycles and therefore can see the bigger picture. They come prepared.

Also, I think certain events can harden our skin so we can not only learn from them but also not see it as the end of the world. As they say, what comes down, must go up.

BTC March Crash

I was in a local shopping mall buying a gift for my girlfriend when the alarms on my phone started beeping. Suddenly, the alarms of other people around me went crazy too, it was just like in the movies when some cataclysmic event is happening.

Well, the latter part didn't happen but it could've been like that if we had been even close to mass adaptation. But no, it was just me and my trading app notifications. Bitcoin was really taking a dive and I started to get restless.

Since I didn't have the option to sell BTC on my phone, I needed to get things done fast and go home to panic sell everything. For my girlfriend, I bought a water bottle and a bag filled with peas or some other small stuff. She had been complaining about her neck aching and I had read that people like those things and I really needed to get home.

March 2020: -50%
The pandemic did not spare Bitcoin, and when the markets crashed in March 2020, the Bitcoin market crashed even harder. Bitcoin lost half its value in two days. Over a month, it fell from above $10,000 in February to below $4,000 in March. source

After I'd run home the price was still falling so I made my first big loss but then again, could have made even more. The next morning my girlfriend didn't seem that pleased with the presents but I wasn't too concerned. She was going to work before me and I kinda wanted to get her out of the house so I could concentrate on Bitcoin price movements.

Back then I was pretty much a no-coiner(and cos of the sale I temporarily was). This one scumbag politician declared on Twitter that Bitcoin was dead and part of me believed that too. The other part was already thinking about buying it back. Now I could get more Bitcoin.

Well, I didn't make the buy at that exact moment.

The Big Picture

So was there a lesson to be learned? Did it make me tougher? It sure did and the lesson I learned was this:

It didn't take me long to buy back BTC and witness it climb new heights. The thing I regret was my hesitation at the bottom. Should have just bought that but to be honest, it was such a drop that it made me question the whole thing.

source

The good thing was it made me see the big picture more clearly. There will be ups and downs and it's up to me how to deal with them. I began to see the downs as opportunities and the ups...well, I know they are times to take profit but perhaps that is a part of another story. Also, too bad I'm not with that girlfriend of mine anymore. Because of the crash, it would now perhaps be very easy to remember her birthday!

Maybe it's easy to say because this was a start of a massive bull run but yeah, I really felt it made me tougher. Afterward, I wasn't shaken up by every little bump on the road and maybe my skin got a little thicker but I still didn't have experienced a true, massive loss. That was about to change.