Bitcoin (BTC 0.64%) is down. Not just a little down, but the kind of down that makes you question all your life choices, like that time you thought tie-dye was a good idea. Twenty-two percent in a week, as of February 5th. The internet, predictably, is full of people declaring the end of everything. My aunt Carol, who still forwards chain emails about the dangers of 5G, sent me a particularly enthusiastic one. She thinks this proves her point. It’s always something.
The thing is, it’s not just Bitcoin. Everything feels… precarious. My brother-in-law, a software engineer, keeps muttering about “corrections” and “down rounds.” He’s started brewing his own kombucha, which is always a bad sign. And it’s not like you can run to gold or silver for safety. Those prices are doing this weird little dance of their own, like they’re trying to avoid eye contact with the rest of the market. It feels less like a correction and more like everyone simultaneously remembered they have bills to pay.
Then there’s Michael Burry, the guy from The Big Short. He’s decided Bitcoin is useless. Which, honestly, is a pretty succinct assessment. I mean, what is its practical application? Other than making venture capitalists very excited? I tried explaining it to my mother, but she just wanted to know if she could use it to buy yarn. I didn’t have a good answer.
So, yes, times are bad in Bitcoin land. Bad enough that I’ve started double-checking my bank account every hour. Bad enough that I’m considering taking up a sensible hobby, like birdwatching. (Though I suspect I’d just end up judging the birds’ life choices, too.)
Buy When It Makes You Feel Uneasy
Here’s the thing. The fundamental argument for Bitcoin hasn’t suddenly evaporated. It’s still based on the idea that there will be a limited supply, and that scarcity might, eventually, matter. It’s a long-term thesis, and I’m not entirely sure I’m patient enough for long-term anything. But, theoretically, it makes sense.
The best time to buy, everyone says, is when you’re actively dreading it. When the price is so low it feels like a personal insult. I’ve been practicing this with discounted stationery. It’s surprisingly effective. So, I’m trying to apply the same logic to cryptocurrency. It’s not going well.
Dollar-cost averaging, or DCAing, is the recommended strategy. Invest a fixed amount regularly, regardless of the price. It’s supposed to smooth out the volatility. It feels a lot like throwing good money after bad, but who am I to argue with the experts?
Bitcoin will probably survive this. It always does. But is it a good buy right now? If you’re the type of person who loses sleep over a few red numbers, probably not. You’ll just end up resenting the entire concept of decentralized finance. And nobody needs that kind of negativity in their life.
But if you can stomach a little turbulence, if you’re comfortable watching your investment fluctuate wildly, then now might be a good time to load up. That’s what I’m doing. Mostly because I’ve already talked about it to everyone I know, and now I have a reputation to uphold. And also, because discounted stationery only goes so far.
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2026-02-10 12:32