I completely agree. It will rid the market of speculative investors who are just in it to make quick money. It's a double edged sword. Without the speculative investors, the price may not skyrocket. With them, they mis use it as an investment rather than what it was meant for. I really think this is not the end of the price dip. More news media will pick up on this and further people will run away from crypto at the moment.

for people telling others not to sell, you're fooling yourselves. Seriously. I wrote a comment about 2 or 3 days ago when bitcoin was worth close to mid $7k then it went back to $8k about cutting losses. Look, you can sell your bitcoin, sell it. If it dips lower, buy more of it at a lower price. If you bought a house at $300k and houses in your neighborhood are now people ar ebuying houses that look like yours in your neighborhood for $50k, will you continue to pay that $300k mortgage? only a stupid person will.

Here's the real truth. You've lost loads of money and if you bought bitcoin at 19k, you've lost over 70% of your money and you own less assets of bitcoin. You could have more bitcoin by selling now and waiting for it to go lower. When will long term investors start to see that they lose so so much money on a virtual asset that's intangible? A word is enough for the wise. Sell it now, wait for the price to stabilize then re-enter the market. For those who don't own bitcoin, maybe for you this is the perfect opportunity to buy. Then buy it, do it if that price is right for you. My only caution is for people who bought it at an higher price over 13k and are still waiting for it to go back to that level. Look, it probably will but guess what before it does, you could own two bitcoins before that time since the price keeps falling.

One thing to also remember, with the price of bitcoin falling, regulators will continue to now say that it was a bubble after all. They will double down on efforts to limit crypto trading to limit the risks it poses to people. Also, those with crytpo assets will sell more cryptos around this time. Valentine day is near and will need cash for purchases. There's more to come in price dip, this is not the end of it. You can hold onto it forever till it becomes $500 in your hands though and keep dreaming of that opportunity you had to sell it at $6k.

For all the people saying don't sell and to those who have lost money, ask yourself, are you really a smart investor? Most people who buy stocks and what not will usually have a stop loss limit or a price alert if the value of their investment goes below a certain number. You buy bitcoin but you don't know when to quickly cut your losses in case of a dip in the market?. Any smart investor could have sold their coin in the last three days before it dipped this bad today. If they sold it, they can buy it at a lower price today for example when it's only worth $8k.

I don't know if bitcoin will dip further, my guess is that it will. Panic is in the market right now and when people panic, they sell. It might go up again too but play it smart guys. Just my 2cents.