Some of you may recall last year that there was a slew of articles and blogs when bitcoin was near peak FOMO about how to handle crypto discussions at Thanksgiving dinner. Well, there doesn’t seem to be any such articles this year. In fact, some are even advising to avoid the topic entirely.
It’s a shame too. Particularly now when the price action is weak education efforts should be increased, not decreased. The most recent dip has piqued public interest, so now is actually a really great time to talk about it.
Being thankful isn’t just about receiving things. Though I’m sure your aunt who invested in bitcoin might not be the happiest to hear about the financial revolution or the paradigm macroeconomic shift we may be about to witness, what might comfort her is that some of the most valuable stocks today have seen larger drawdowns than this.
Here’s a handy reference table…
As with all investments, timing things perfectly is nearly impossible, which is why strategies like buy the dip and dollar cost averaging can be so effective. You’ll also notice that not all of the above equities ended up being profitable, which is why it pays to employ proper portfolio diversification. As Yoni Assia famously stated….
Furthermore, and most importantly, those relatives that did take a leap of faith and purchased cryptoassets are hodlers now, so they’re in the exact same boat as you and may even surprise you with how much they’ve learned over the last year.
Today’s Highlights
Traditional Markets
It’s been a rough week so far for nearly all asset classes and it seems that everyone is ready for a break. Volumes have been rather light so far today in Asia and Europe in honor of the upcoming Thanksgiving weekend, even though most of the world doesn’t celebrate this American holiday.
