People who can't handle 30% drops shouldn't trade BTC.
The chart above shows every time BTC dropped by 30% OR MORE in 2017
In my opinion we are midway through this bull market cycle and things look to be similar to the START of 2017. And look how many times the price dropped by 30% or more. The graphics card cycle appears to be somewhat correlated with the price increases. In 2016 the gtx 1080 was released and then when the 1080tis were released in march 2017 thing really started to heat up. Analogously we have the rtx 3080/3090 released months ago and the price saw a marked increase since their release in November. Now we have rumors of the 3080ti coming to market this year, this should signal the next leg up and eventual crash back to a new baseline price before the next halvening cycle.
Although bitcoin is not mined on graphics cards per se, the mining of ETH and other coins bleeds into the price of BTC as it is the easiest to use as a transaction currency.
In my opinion we are midway through this bull market cycle and things look to be similar to the START of 2017. And look how many times the price dropped by 30% or more. The graphics card cycle appears to be somewhat correlated with the price increases. In 2016 the gtx 1080 was released and then when the 1080tis were released in march 2017 thing really started to heat up. Analogously we have the rtx 3080/3090 released months ago and the price saw a marked increase since their release in November. Now we have rumors of the 3080ti coming to market this year, this should signal the next leg up and eventual crash back to a new baseline price before the next halvening cycle.
Although bitcoin is not mined on graphics cards per se, the mining of ETH and other coins bleeds into the price of BTC as it is the easiest to use as a transaction currency.