Bitcoin is now down over 70 percent from it’s all time high last year.

My friend Charlie has a chart of all the big drawdowns in Bitcoin over the its short life (which includes two of more than 90 percent):

In December 2016 I wrote my first ‘Carpe Volatility‘ post and dedicated it to Amazon because of this chart…

I ended with this:

To think that you did not have to found Amazon, be employee number 100 or 1,000 to make millions is why I love the stock market.

I am excited for 2017 because volatility is out there lurking in both private and public markets.

I would say the same thing again today. From the ashes of this bear market in Bitcoin and the crypto markets there will be a next set of big winners.