What to do due to the huge market collapse of the Bitcoin?

[LogitechMouse]

Corona virus had a great impact in the crypto market. Even,few days back the market price of bitcoin was more than 10000$ but recently it crashed down to 6000$.

Since when did Bitcoin crashed into the $6000 price this year?? You said recently so I assume that it happened not more than 3 months to 6 months? or you just posting nonsense here hoping that somebody will give you merit for your "meritorious" post that you've made.

Bitcoin market had a fresh start in this year as the market price of all the crypto currencies was higher. But the recent bitcoin market collapse is the lowest market price in this year. Even when the talks of World War 3 and other country problems started,there was no problem in the crypto market.

Yes the current price of Bitcoin right now is so far the lowest of this year and I will repeat, it didn't crashed down to $6000 like you said in your post.

For now,it would be better for the traders to hold their crypto and wait for the price to increase to avoid loss.I hope this problem will be recovered soon.

Many are holding crypto right now but still there are some who have some buying powers/fiat currency that they can use to accumulate more crypto in a cheaper price. If you are a position trader then you can accumulate as early as now since the price is slowly declining but there are some who are expecting for a further bearish move. I'm hoping that it will not happen but lets just be ready for the worst case scenario that can happen .

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[Eugenar]

Corona virus had a great impact in the crypto market. Even,few days back the market price of bitcoin was more than 10000$ but recently it crashed down to 6000$. Bitcoin market had a fresh start in this year as the market price of all the crypto currencies was higher. But the recent bitcoin market collapse is the lowest market price in this year. Even when the talks of World War 3 and other country problems started,there was no problem in the crypto market.
For now,it would be better for the traders to hold their crypto and wait for the price to increase to avoid loss.I hope this problem will be recovered soon.

Actually 6,000 USD is not the lowest price of bitcoin so far as of this year, it is only about 7,100$, so where do you see the information about 6,000$ mate, make sure that every single data of your post is correct and at least give some proof or evidence of what you are trying to say, the best thing that you must do for bitcoin as of this bear season is to hold your money, if you are investing a huge amount of money, you should hold it until the bitcoin price goes high. There is no best thing than holding your money. That is good in investing because even if the bitcoin goes down, you cannot still lose your money because you can still hold it until the bitcoin goes high again.

[hahay]

6k? When and where did the decline occur? Even the decline that occurred yesterday was still around 7.7k, not sure prices will fall to below 6k despite a big correction. It seems that the corona virus did not have a major impact on the collapse of the crypto market and also other assets outside the crypto market, so there is nothing to worry about the collapse of prices because even the bullish market still hasn't happened so far and so at least be patient and keep waiting is a choice that must be made if we really want to sell at a higher price.

[Latviand]

This thread has no strong basis. The market price of Bitcoin have indeed reached $10000 but since then its market value did not fall as low as $6000. If I am not wrong it did not get pass $9000, open for correction. But to still answer the question, if ever the price will again crash, I would definitely invest half of my bank savings into it. I have regretted it before, not investing while the price is still low, I have missed the huge opportunity before to invest and earn huge profit. Also, I am aware that its price will fall often, due to its nature of volatility, therefore I do not panic in such times. There's really nothing to worry about because its market value will again increase the only downside is lack of assurance on how long will it take before recovery take place. So basically, it is a matter of waiting game.