Volatility was inevitable. If there were a bank account paying a 40% yield, it would attract nearly infinite capital. Everyone would want to own it. That is effectively what Bitcoin has been for the last 16 years. It is a new, superior monetary asset that has compounded at ~40%+ per year over long periods of time. When the market sees that growth, capital rushes in. But because Bitcoin is scarce and adoption happens in waves, the price often overshoots far above its long-term trend. That is what creates parabolic bull markets, sometimes pushing returns to 1,000%+ in a single year. After those massive bull markets, the price corrects [significantly] back toward its long-term growth path, near that ~40% CAGR. This is why volatility is a symptom of rapid adoption. The drawdowns themselves are the direct result of the bull markets that preceded them. If your thesis is that bitcoin is long-term savings technology because it has superior monetary properties, and the world is still in the process of discovering that, then short-term price action should not shake you out of your coins. If anything, volatility creates the opportunity to accumulate more.(Joe Burnett, MSBA)