Bitcoin Forum

Bitcoin (BTC) price abruptly dropped 4.9% from $9,800 to $9,324 after rejecting at a key resistance level again, is it a buy the dip opportunity?  ???

Yes, anything under $10k is going to look like a great deal about 6-12 months from now. Bitcoin doesnt inflate, and gets new users daily for a positive organic growth. I am holding long 5-10 years.

It is an opportunity to invest for potential profit but I would not take it or risk it since it was just a normal drop, it always happened. You could still make a small profit anyway if you buy at this moment when the market recovers but I suggest do it when there was a big dump in the market price of bitcoin just like in the past month wherein drop to 3000$+ that would be a much more profit and a good opportunity than this.

https://i.imgur.com/In6pNfp.jpg
Source:
https://www.coindesk.com/

The market is still in great shape since it is still in 9000$ it is still a good opportunity to sell for someone who invested in the past dump of bitcoin, not buying but long term investment if different.


Agree if you're going for a long term investment or going to sell your investment after years it is still recommended to invest in bitcoin no question ask. It is still expected for the market price to reach over 20k$ surpass the ATH especially after the bitcoin halving event, you cannot really predict what is going to happened in the market so it's better to invest now.

It looks like a good buying opportunity, but no one knows exactly. Who says that this is the bottom and that price will go up now? On May 7th BTC was rejected from $10k too and the price went all the way down to $8100 in the next three days. If you want to buy, the best advice is dollar cost averaging (https://www.investopedia.com/terms/d/dollarcostaveraging.asp).

Yes, my suggestion to you that is bets time to buy bitcoins now because of the bitcoin price is under correction level now, so once it cross the correction level then it will go all-time higher. because we know the past after halving the bitcoin price went moon.

Are you serious? Who can say for sure that the price will go up just because it did so in the past? We can only hope and wish for it to grow, but I wouldn't be that certain it will go to the moon.

He obviously doesn't know what he's talking about, and that's kinda close to shit posting.

The post halving price doesn't automatically resembles the past 2 halving which eventually hits an ATH. There's still a possibility that Bitcoin may remain in this price region or worse it could go down. However, the people's optimistic mindset about the past 2 halving may influence and increase the percentage of another bull season.

It's pretty simple. Do you personally think that bitcoin will be worth more than that sometime in the future? If you think it will, then buy, regardless if it drops more or not. If you think it won't go up in the future, then don't buy. It's that simple.

There is a big chance that soon we can be witnessing Bitcoin to go beyond the $10,000 level so yes this current dip can be a good opportunity to buy into the King of Cryptos. Unless of course, if you can be able to know for sure that there will be deeper dip coming so you prefer to just wait. What is happening right now with Bitcoin is just a normal thing and as they say whenever there is a dip then it is time to buy and continually hold more.

Who could answer you where is dip? No one. If you are a bitcoin believer then it's totally depends on you when you will take entry. Simple question, few days back bitcoin was below $7K, why hadn't you taken entry during that time? Wasn't it a golden opportunity to buy bitcoin. So we don't know if this is dip or we will see it below $7K again. Personal suggestion is, you may research more before take this financial decision like buy bitcoin. You may take look few more days and monitor the trend. If you feel that there is possibilty to drop price you may wait or if you feel price likely would bump then you may take entry. But you are a not good holder then it's not look good to take entry above $9K. We aren't your financial advisor, so please do your own diligence before invest anything here.

The FUD that Satoshi moved Bitcoins from an unknown wallet address is one of the reason why it dropped today.

The weak hands have done it again by panic selling their Bitcoins that they hold causing the price of it to drop by almost 5%.
Regarding to your question, Bitcoin drops are a good opportunity to buy it but it would be better if you know when to enter to maximize your profits. It would be better if you know how to read the charts so that you know when to buy and when to sell.

Overall, if you are buying Bitcoin for the long term then maybe today is a good buying opportunity :)

I really don't understand those panic sellers. We have seen number of times in the past that price decrease as a result of panic sell is always canceled by price rising after everything settles.

i've been buying with pounds, and have nipped in to buy in recent weeks with an average buy price below £7000..
which looks relatively good now. but i want more.. and the truth is no one knows whether i should wait until there's a further opportunity to buy below £7000, or whether i ought to buy right now as it's about to make the (what i believe is) inevitable move updwards. we all want the best 'value' possible, but we won't know until later.

The drop was only small so I don't consider it dip myself but idk to you  .

For me dip is something that decrease in a big chunks .

The phrase buy the dip should not be questioned tho , that simply means buy when the price is decreasing  (small increase or big increase ) because btc will still increase anyway but for the majority , they will only wait for the real dip/dump before they start working  .

Yes any rejection at this time could be an opening for a buy because it is likely to taste that ground again and any break and close on top $10,000 is a sign of up movement. So be careful anyway and do your analysis proper.

Yes, I think so but let's just wait for the bitcoin to drops down again, just like me I am always waiting for the bitcoin to reach below $8000 before buying it, it is a win-win situation for me. There are still many possible things that might happen better to just wait first and observe always the graph of the market ;).

I think this quote is something that everyone should consider, I don't mean to just follow this advice but it can help in making a decision, in the end, you will be the one who will make the decision.

By the way, my thoughts on buying dips is that you should assess yourself, are you looking for a quick buck? If yes, then you might decide not to buy that dip because that dip might plummet even lower. On the other hand, dips in the prices can be an oppurtunity for you to buy at lower prices and wait for the prices to go up and then at that time, you will gain considerable amount of profit if you plan to sell it. If you do not know when to sell then you can set a mental note that at this price you are going to sell it, that is what I am doing, I am still a student so I do not need the profit ASAP.

Remember that the decision will always fall in your hands, you might not follow all of this and that is okay, this advices are just mere testimonials on our experience, so no pressure.

If it drops, it's always a yes if you have firm plan of selling at a certain above price level.

Well, this is absolutely true. We see small hundred of drops compared to thousands of increase with a short period of time. Whatever is the description you have for a dip, a dip is a dip and that what buyers should think of. A buying opportunity should be taken action if they have been planning to buy at a lower price.

It could drop as low as $9000 or lower than that, this is a time to start deciding op whether you buy or not and what price you want to sell.

several times if you see the movement of bitcoin continues to experience things like that in the past few weeks. and it's likely to happen again until there is a bitcoin momentum that can break through $ 10K.  it will continue to increase just like when it was halving ago (2016). it's better to wait when it really drops back to $ 8K for you to buy and invest or wait for momentum when bitcoin passes $ 10K.

Not all the drop is perfect opportunity to buy since we didn't know if there's more dump coming so best to wait for a little more of time, if you see a little stability on the dip then try to accumulate and wait for the pump. Also put a safety net on your actions since we never really know on what will be the outcome on your action so best to create a good action so that you will not fall in the traps.

How your heart and mind, sure you want to buy, do this the right time for you to do it.

You know (halving) has finished several days ago, just waiting for the right time, you know what I mean...!

Bitcoin has a good value for the future, where when people doubt the value of bitcoin that's when bitcoin starts showing itself, so, there's no need to hesitate to buy now, it's a good step for you to do now.

I am lucky because my waiting ends last march when the market made the lowest fall even had for years and i bought Bitcoin
at 50% discount following my recent buy last december.

But today as we saw the almost 5% price drop?then all i can say is if you are longing for Holding since Halving is just happened
and the effect will be here soon then Better buy even the price is $10,000 since we knew how can Bitcoin
 grow every halving and just the effect of Virus ends/surely the rally will start .

waiting for at least 6 months to 1 year?this is not long if the interest of Profiting is our desire and also for the chance of doubling
 or triple our Investments.

Today is the first time after the halving that the bitcoin price is dropped considerably high. Bitcoin cannot just go upwards and need a healthy correction before moving at another higher level. I think bitcoin is performing very well because many people predicted that bitcoin will fall soon after halving, but it did not happen.

indeed, it can be said that is an opportunity, but we must know that the decline is according to analytical techniques or not,
if it is true then it is an opportunity, if not you can also fall

Every single bitcoin drop has been a buying opportunity, it has never been anything else. Look at why bitcoin dropped yesterday, some dude from way back has came back online and sold the coins he mined on the early days, it was so early that people thought it was satoshi himself who did it, and nobody questioned why would satoshi come back to only sell 50 bitcoins and leave.

It has been the most influential 50 bitcoins sold on the market, normally you could sell 500 bitcoins and still can't drop the price this much but it had sentimental reasons to drop so with 50 bitcoins we are so much down. What came out of it? Nothing. So, now bitcoin will recover because that was unnecessary excitement over nothing, wasn't a big deal so we are going to simply go back up now.

Bitcoin price now still getting down, and I wonder until how deep bitcoin price will go down. We are close to $9,000, and if the situation is like this, then I think the price can be at that price, but I don't expect to see bitcoin price will go down below that price but who knows. I think some people now panic to see bitcoin price is down below than $9,200 so they sell some bitcoin and they hope that they can buy at a lower price. We will see it later how much bitcoin price will go down.

Every time the price drops a new option to buy more is rising.
However, I don't think that 9,3k is a good price to buy, A support level around 8,5k has been created and when the price goes around that price I think it is a good level to buy more.

you have to admit that it is very interesting that such a large scale FUD over the past 2 days has only been able to cause a very tiny drop that is not even breaking any major resistances. at least not yet anyways.
i think we can surely consider this as a very positive sign of a strong bull market currently in existence.

at least if you make long-term investments oriented at least for a year or two, taking into account the forecasts associated with the last halving, then in any case, today's price will be beneficial for each investor to buy bitcoin.

It is a buying opportunity because these current corrections has happened several times after halving. We expect recovery in June if the current pandemic is bring to a bearable level. It is time for buying for short-term purposes.

There's a FUD going on if this is just happened in one day we aren't that sure yet if there would be another drop or this is just a bear trap. It's better to wait a little more longer to see what is happening in the market since I can still see a little stability. There's always a right time to buy if you are used to the market when trading.

Too early to say. We might be on the verge a major bearish inflection point. Until $10.5K and the year-long downtrend is broken, I still see the $5,000s or $6,000s as a real possibility.

Keep an eye on this bullish trend line:


A break below the $8,100 pivot will print a clear double top on the daily and weekly charts and will suggest a mid-term bearish correction. If that happens, dip buying in the $9,000s right now will bring you a lot of pain.

Its currently priced at 9077 usd in preev.com as I have tried to check it out.We cant say if this would be a good spot to buy on yet we wouldn't know if this one would go even down further and this is the hard part here on crypto where you would really have always that kind of anxiety when you do tend to position up yourself specially if you do active/day trading then this one would really matter on risk management.If you do saw that this is a support level then its your call if you do tend to risk,if you do just go long term for bitcoin then these kind of situations wont really be that much a concern.

The fud is because bitcoins were moved from a very old wallet and everyone thinks this is a wallet which could only be in control of Satoshi and he himself moved those coins. I would not believe in all this stuff because if satoshi wanted to sell those coins, he could have done way back in 2017 when bitcoin reached 19800$.

Are you sure that currently price is already cheap?

It will be better you make your own analyst first before you buy it. You can use trend line strategy to make sure that the price is already lower or not.

The basic strategy to get profit is, buying cheap and sell high. But it is not easy to make sure that the price is low or its pricr will goes to lower than that. But if I predicted, its price will goes lower than that, given its price was stable at $9600-$9900 in a few weeks.

Indeed. The current price of bitcoin is not yet cheap to buy it today, even it is starting dropped down it's price again. If this guy planning to buy bitcoin in a price of $9,000, he should be making an analysis on what will happen to bitcoin's price on the next few days if it will continue to decrease or not.

if you did wait a little more like the next day?Bitcoin price drops to $9,021 more than lower  from your target price and also there are some speculative discussion that Bitcoin will get to another bottoming of at least $6k level.

But this is the situation mate,if you are willing to take the risk and investing money that you can afford to lose?then why not consider buying at that price range?
lol remember that Halving is here now and also the Virus is being calm now meaning at any chance growth will
 arrive and regret is with this because those who did not believe that 9k level is lower
 for sure will blame themselves from not buying these days.

Of course, this is a great opportunity to buy Bitcoin. The price of Bitcoin will go up and down again. This is normal. Those who are waiting to buy Bitcoin will definitely want to get more Bitcoin at a lower cost. Because I also agree with you now is the time to buy bitcoin and this is a much better opportunity to buy bitcoin.

I hate it when I am out of money when price goes down. Its such a nice and juicy spot to buy bitcoin right now because the drop was for nothing and we are going to be even higher than $10k very soon, that is an easy 10% profit right there in one week. Unfortunately there was some family stuff due to corona and I had to spend a bit, I still do have a bit of money but I am saving that for the rest of the month until I get my pay check.

If by the end of this month price is still under $9.5k I will buy more bitcoins for sure, short term of course because its my paycheck but I trust bitcoin enough to put my pay check (not all of it of course but a good chunk) into bitcoin for couple weeks and I will be getting out at over $10k, that will help me buy some more stuff at least :D.

I know the feels when you do really get into this kind of situation where you do like to buy but you do have other priorities on which your money would be spent on.Its alright if we do missed up things because we know that we are on a pandemic and securing out fiat this time is important for us to buy our needs.It is indeed a good buying opportunity yet we might break out 5 digit soon or in a short time.Answering about bitcoin drops and buying opportunity? then this one is always been a question yet we cant be sure if the price would head go way lower or would shoot up this is why
it do always matter with our discretion.

It is a situation faced by many, when the price goes down you really do not have the money to invest in it, the corona situation has put a dent on my financials and i lost my job due to it and i am sure many are suffering because of it and hence i am not financially sound to invest as i will run out of money if the situation is not controlled in the next two months.

I would love to invest when ever the price goes down but my financial status is against me >:(.

Good thinking, a lot of people do the opposite, they find the extra money when BTC goes up fast! And when its down to like $4500 they justify selling because they can just buy back in lower.

Yes it is always is because BTC is a giant bull market for a decade, an entirely new sector really hence rapid growth..   Just how deep does this dip go and are you prepared to hold for 2020 and into 2021 before you can sell into a peak because thats quite reasonable as a scenario sooner or later.
  Think of the circumstances occurring, the volatility, the unknown side effects from extreme measures and the unknown fallout economically and many unplanned and unknown consequences that'll occur in this environment; market can easily have its doubts.   Theres easily enough risk out there to knock BTC sideways into the next year before it finds its feet again.   Buy the dip is way over simplified to agree with without a previsio, it can be a long wait but I do think we'll rise from here generally.  
  If you wanted immediate advise then I reckon 8000 for an orbit around month end and perhaps it can rise back up from there.   Right this moment I'm waiting for price action to develop, this weekend to pass into Monday and then I'll take a shot early hours on if its worth a bet either way.

That's not dip actually. It's just a little dump which can be consider as normal thing in market. Well btc failed to pump after halving. Price is still dumping. have chances to drop from current price. Can't say surely about real dip but let's wait for hit $8k support. If unable & start pumping, then buy it

take advantage of the situation is very good when the price of bitcoin is down. but, panic selling is also inevitable. however, it is an opportunity for those who want to buy at a cheap price. if I have the chance, I will certainly buy bitcoin when the price is dumped for some reason, but it has the potential to bounce back.

The price decline is due to the fact that bitcoin has risen sharply from $ 7k2 and it needs to be adjusted. There will soon be another strong adjustment when the economy is now very chaotic. People are not sure if it will recover in the future, because the disease is still under control. If Americans keep high unemployment for a few more months, it will adversely affect the surrounding countries. That's why I think bitcoin will continue to fall into the future, $ 9k3 is still not a good price to buy now.

I think in the past few weeks gave us already a chance to buy slowly while the market is a little volatile there are chances that I see we most traders bought a few coins. Don't you guys think that this is also the chance to buy back again after a few days of pumping? Just buy low and sell high that's just the way traders do it. But if you doubt that it might dump again, then trust your instinct. Once you are in this market for so long your guts will tell you what to do.

When a fall in prices occurs, of course it is an opportunity to buy, but when the situation is very bad, such as a continuous decline every day, still, we must be alert to it and that does not mean all the decreases that occur are the right time to buy, because on the other hand at least we must realize the potential for recovery that may occur in the near future so that we can buy at a more appropriate time.

Many of the discussants respond that this is a really good opportunity, but I think the answer is not so obvious. Much depends on how long you are ready to “freeze” your money. Plus, if there is a bearish trend ahead, then after some time there will be more favorable prices for purchases and it is more reasonable to buy at lower levels.

If they wait for bitcoin to increase, I am afraid that they need to be patient for more because we don't know when bitcoin price can increase. But if the bitcoin price is down significantly, that will be the best time to buy bitcoin at a low price. You should know when to buy bitcoin by analyzing the bitcoin market, and that will need time before you can get the best price. If you can watch the bitcoin price every day, I think you will found the sign to buy bitcoin.

And you are right. A 5% drop is not a good opportunity in Bitcoin because it often doesn't end with 5%.

A trader would be satisfied by something like this but if you're a holder you should wait for a better opportunity. Bitcoin hits a 10-15% drop every 2 -3 months, it shouldn't be a long wait.

Yes, 5% for a highly volatile asset is a minor fluctuation. And the likelihood that these 5% are part of a 50% movement is always very high. Therefore, I prefer to consider larger price movements. Small price movements are of interest only to traders who use margin trading.

Predict where it drops to is the real question and yes it's great to buy a good low price on BTC because the price in a day or week often varies greatly from yearly.   Impulse lows are likely to rise back towards averages, the reason being the same reason shops can sell out of goods its temporary and there is a trade to meeting the demand and supply, etc.

https://talkimg.com/images/2023/06/12/A57Rq.png

I'm still not sure we drop from here really, the low prices have some backing and even if do move its most likely only down to something like 8000 which is where 50 or 200 day averages are.   Some are more bearish and if you can guess correctly which target is best it's worth trading for sure.
  Blue line is year average but it matches recent weekly closes, it can still rise rather then drop though we did have a lower high on the weekly pricing.

We are taking the risk here, not all drops are good and not all pumps will be good as well. If you have a feeling that Bitcoin price will pump after this new drop, then you shouldn't have to waste that opportunity. Because to be honest, no one knows after this dump will it bounce back high again. I was afraid if you feel regrets because we are saying that this is the best time to buy and yet, it continues to drops more a few days after you bought.

I suggest you closely observe the market price change and this could help you to decide.

In my opinion, the price of bitcoin above $ 9k is still quite high. The market is only sideway and volatility is making people eager to buy now, but you don't know the bull trap is behind. When the price has increased continuously from February to now, it needs to be adjusted in 1 - 3 weeks. so I anticipate the coming period could cost Bitcoin about $ 7k2 or worse than $ 6k. that would be a good price we should buy, our job right now is to be patient.

although we assume that it is an opportunity, the fact is when it happens, then we will be difficult to make a decision whether we should buy bitcoin in large quantities or not. however, large decreases sometimes cause panic. I've tried this many times. Well, that is an opportunity, but there will still be doubts.

It is the best option, to be honest.

It is a matter of timing though since we never know how long will it fall, how much it will fall and if we get that right, it is a good profit in just some days and might continue to for a week or a month if you are lucky enough. I think that also goes with other cryptocurrencies with good potentials though we never know which are those since there are a lot of them that are dead now.

The bitcoin price dropping is a wonderful opportunity to buy some coins for investment purposes. An year back no one would have thought that bitcoin price will ever reach $10k or above after getting in that bear market when the price was under $3.5k for quiet a while and many people were saying that bitcoin is dead. But after the previous Chinese New Year the price started rising and after that It never fell below $7k. So i think anything under $9k is a decent price for buying bitcoins in a bear market.

I always felt that way but one friend warned me that it could also a way to not just buy but also lower your entry point which I think I can't do but he said he does it and manages it. I would be horrible at it but I at least understood the idea.

Let's say you buy bitcoin at $10k right? You see its dropping so you sell all of it at $9.7k or something, then it drops to $8.5k and you buy once again but this time since you have same amount of money yet the price is lower you end up buying more bitcoins instead.

So, when the price goes back to $10k now you invested the same amount but you have more bitcoins. That is lowering the entry point but if I ever want to do that I would mess it up and probably will end up losing more money instead of making profit, so I just buy from lower and keep it, and buy again when it goes down and just focus on buying without any selling.

There'll be obvious times you really should be selling a bit, people over invest quite often and if something rises 40% or more and you are trying to keep some kind of balanced portfolio then the % will be off value wise as you've gained so much on this BTC portion.
  So you can sell at times and its entirely sensible to do so, I dont generally agree with buy all and sell all and its impossible to tell for sure the direction BTC will take but I try to at least recognise the mood its in.   Quite often the price over reacts, people think they are genius for selling it and also when they buy it and it goes up but the point its often overcooked and ready to reverse.   

That is why having a crypto investment is so risky and that people have no idea what they are doing will absolutely fall into a losing ends. And you are right, we all just full of assumptions and prediction which is most likely out from reality. But I don't think it is a bad idea knowing that we are looking for a chance and of believing that our hopes to become possible.

If we keep doubting about Bitcoin's capability, it will only drive us apart for knowing it more. We are in crypto, we are giving support to this because we think that this has a better future and it is proven multiple times.

When the fundamental factors influence the decline, it is difficult to say that this is the right time to buy. We do not know how far prices will fall and how long prices will begin to recover.
This decline is the impact of the economic crisis. If you believe that you will hold onto your bitcoin during a crisis, there may be an opportunity to profit. The concern is, when what happens is the price falls and you are not allowed to hold it longer because of your needs in times of crisis.

Aren't we getting tired of this thread?when every time there is a drop in Bitcoin price we will ask the same and old questions?
i can't remember how many times i have crossed same question over and over again,why not just buy if you think that's right?and stop spamming the forum with the same words again.
But every time is a perfect time to buy if we really tend to invest in this market.

multiple times this happens so why bother to always anticipate the fundamentals if we are truly wanted to invest and can carry a year or more holdings?

In that case, you would really end up on a very tight situation and most likely you would really end up on using or selling in no choice since you would need those funds for you to survive.
This is on case to case basis thats why when we are on a tight situation its really hard to tell or follow your investment plans. Not all would really have that kind of capacity on rebuying
when bitcoins price turn to drop out and with the normal characteristic of this market which is way too unpredictable then its one of the factors that makes it more harder to recognized
if its already a right time to buy or not.

Bitcoin within a span of eight hours was the drop of the Dow Jones Industrial Average. bitcoin could spike again in the near future, and those who buy when it is at its current value could stand to turn a profit. The first real price increase occurred in July 2010 when the valuation of a bitcoin went from around $0.0008 to $0.08 for a single coin.

basically a fall in the price of bitcoin is an opportunity to buy for those who are waiting for low prices. but the recent decline from $ 10k to $ 9k doesn't seem like the right moment. it's just that, if you believe that the price of bitcoin can pump even higher, then prices below $ 10k are now an opportunity.

Every price drop is a buying opportunity, I thought that was clear by now. The question is only how much you can invest or to say possibly risk to lose and for how long are you willing to wait to return your investment.
When price goes down in.one moment it will also climb back but not all people can wait for that moment and sometimes they sell too early and accumulate loss.

Maybe we need to wait for a while until the price is at a low price to buy. That is why before we decide to buy bitcoin, we need to analyze to find the right time to enter the market. We can make more than one order buy so we can get the lower price to buy bitcoin or we can use stop loss to prevent the big loss. This moment, bitcoin price is down again for more from $9,600 into $9,500 level, and maybe the price will go down for more so you need to wait for a while to see what will happen later.

Crypto investment will be a risk if we are still in doubt or panic when prices are falling because there we will panic and sell because we do not want greater losses and therefore we must be prepared with a strong mentality to deal with problems like this, but on the other hand investing must be with good skills because if there is an opportunity in the market then it must be utilized well even we have to get a day of profit.

It is, and in my experience, a drop is another opportunity for a future profit but be sure that you invest what you can afford to lose because it's not every time that the price will go up immediately, sometimes it will take some time so it's better that you are comfortable in your investment, don't be tempted to put all your savings.

The best thing to do is to stop waiting for opportunity. The best opportunity to buy bitcoin is when you have funds (more like savings that you can use) to invest on bitcoin. Just invest those funds on bitcoin and sit back, relax and stop looking at the price. I am talking about long term investment. If you look at the prices, you will notice that in the long run, the price of bitcoin always tends to increase.
Don't keep on waiting for the "price to drop".

That is also right, but it doesn't hurt for him to wait if he can realize the time to buy right away, because what worries him about waiting is about being mentally scared or worried about buying, because anxiety about prices that might fall lower is the problem and that is something that must be resisted for those who continue to wait only to buy.

This is only for those who do who go for long term but there are people whom prefer on doing short trading where buying
timing would really be needed or a serious matter because they do aim for making profits without needing for long waits.
So its just a matter wether you are holding or short term trading.

We cant only see opportunities in bitcoin alone and if we try to spread out our vision then we can also achieve
this one on considering alts as an option but well people do really always aim for the most popular and most supported one.

Going long or being a holder is one of the best strategy, I mean it has been a proven formula already. Another good example: bitcoin goes down in March because of the pandemic scare, and it you bought during the panic, by today you could almost triple your investment already. So think of what's going to happen 1-3 years from now.

As for the price dropping, just be mentally strong, it's just part of the game. And I think long term holders have this kind of mentality and not be affected by it. Because at the back of their mind, they really know how resilient bitcoin is.

I think that if an investor expects a big growth (by several X and not by one or two thousand dollars), then there is no big difference at what price to buy - at 9 or 10 thousand dollars. Therefore, I believe that long-term investors have already made their purchases, which means that the market is in the hands of speculators at a short distance.

When it drops like this into a known area then its very buyable but thats just a short term trade.

https://talkimg.com/images/2023/06/12/A5E8m.png


2 day moving average is resistance, drop back into weekly then recovery and a move above both.   The bigger picture is longer term volume in the area above.

Then I hope they have a positive mindset and could able to understand the market volatility. Their decisions are coming from these things and hopefully, they could find out the promising potential of Bitcoin. And the question is how the people will look to those ups and downs? Because not all of us are keen enough to see a big opportunity when the market drops and they also think that it drops more after this. If we see ourselves like this, we are already beaten up by our worries and that leads us into negativity in our minds, and we should have to correct this otherwise, this will not work great and productive.