I really should be depressed by the fact that I'm showing paper losses on some of these purchases, but I'm not. In fact, I hope that the price will drop further, as I want to buy more, and the lower the price, the more I get for my money.
I have those contradictory feelings as well. Sometimes I am going to buy about 1% of my total stash and I hope that the price drop further as well, so I can buy at a lower price. Not only in bitcoin, but in every asset I invest.
Let´s not forget that there is also a general economic downturn and many of the risks, including a commercial war between US and China have been materialised. While crypto and Bitcoin have shown a mind of their own, there is a point in which all is connected.
I agree, they are somehow connected.
I believe that as we are now in a bear market, there is a bad feeling around crypto for now. Every news is bad news. So if SP500 is going down, BTC and the whole crypto market drop even further.
Last year, when we were in a bull market, every news was good news. So when there were tensions in North Korea and US for example, Bitcoin was like a "safe place" to keep money in case of a war. SP500 down meant BTC up. That was an opposite sentiment, however they were still connected.
In time those connections are going to be more stable and clear, I hope.