A Financial Planner Desperately Explains To Clients Why The Bitcoin Crash Is Actually Good


Crypto is crashing and the bitcoin brothers are having a tough week.

In a long, winding threadFinancial advisor and Coinbase commentator Isaiah Douglass explained why the currency’s second major crash in two months is actually good news for people who have invested in blockchain assets.

“I have no regrets,” Douglass began in the thread, which he says is excerpted from an email he sent to his clients, who he says are “early adopters” who “will get the good, the bad and the ugly”.

In a series of tweets, the certified financial planner made a bunch of arguments that, charitably speaking, are very long-sighted. For the most part, it sticks to crypto’s unconditional assertion that crypto is substantially different and better than fiat, and that it is – yes, really – “apolitical money”. .

At a particularly sad point in the thread, Douglass chimes in with an objection from a hypothetical client.

“I can read the responses already,” Douglass wrote. “‘That’s great, Isaiah, but I bought a lot more than today’s price and I’m down X% – what’s that!?'”

The financial adviser admits that price volatility – i.e. the spikes and crashes that characterize the entire cryptocurrency industry – “may seem unbelievable, but on the other hand, it seems difficult”.

“I won’t tell you otherwise,” adds Douglass, and later likens the current crash to “a forest fire,” which he calls “healthy and good.” We’ll let you make up your own mind about this metaphor, but it’s worth remembering the devastating effects of the wildfires that have swept through much of the West Coast in recent years.

Douglass argues in his thread that yes, crypto has fallen tremendously and could fall even lower, but investors should have heart because it will rise further.

He could be right! But of course it is also possible that it falls and rises, rinses and repeats a chaotic cycle of nausea. And it’s also possible that all the hype will eventually leak out of the industry, leading it to spiral back to where it came from.

The bottom line? No one can be sure, and it’s madness to tell anyone otherwise.

Beware, however, of anyone with a financial interest in getting you to buy more crypto. Because they will tell you everything you want to hear.

Learn more about crypto: Crypto exchanges lay off thousands, months after super-expensive Super Bowl ads


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