Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says

[galambo]

Bitcoin did a 50% growth and went 7% downwards, oh my God!

I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.

This is what I call a perfect dip. (And the one at $29k)

There are many who were waiting for this dip to have there Christmas feast. Rather then worrying about this dip, we should worry about how much btc or alt coin we must accumulate. That's wt Buffet said, "buy when everyone fears to buy". I don't think it will fall too much, we may touch 50k or 55k not more then that.

[oHnK]

If they sell all their BTC just because of the correction of the past few weeks, I don't think this is a wise choice and it's self-defeating.  Unless he has bought at the top price maybe he can minimize his losses by buying at the low price to average down.  For those who have bought at 30K, I think this is still a normal price.  Since the crash that occurred a few months ago, even now we are still getting profit because the price is still in the 50k USD resistance position.

[ropyu1978]

The recent decline in bitcoin prices is not a problem for miners because the current bitcoin price is indeed not stable so the process of decreasing and increasing bitcoin prices is common in the crypto world and I firmly believe this will only be temporary. and surely the price will stabilize in the long term

[ice18]

If you bought last March 2020 when price crash at $3k level its not really worrying but if you just recently bought at $60k+ and you are not ready for this drop then you might have a hear attack. Losing a thousand dollars in just a week is painful to new investors, am afraid if bitcoin could not break the $60k again and continue to drop below 55k then we might see a new support at 53k, but if we break the $60k then it will be very interesting in the next few days for bitcoin. 

[rizqoAD]

I think any drop in Bitcoin price is nothing to worry about, the fluctuations are frequent and sometimes so significant that it makes new investors sometimes worried. If you are a long-term investor, of course, you have high expectations, I think the price of Bitcoin will continue to rise above $100,000, if there is a decline below $50,000, there is no need to panic, because panic will make you lose. Stay focused on surviving and believe that if Bitcoin is going to go up, you get unexpected profits.

[CDC AP]

Frankly speaking I want that bitcoin goes down even more as I dont have any bitcoin right now and I want to buy bitcoin currently so for short term I really want bitcoin to go down and then I would buy some bitcoin as well all know it will keep on growing it is only a correction which will not last long so I will wait a couple of mor days then I will buy some of those

[fullhdpixel]

No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.

You do know that for the fact you believe in something, that doesn’t mean it is going to happen, right? If you believe that bitcoin will reach $2 million next year, that doesn’t mean it would happen. You’re simply just hoping that it would get to that level, but that doesn’t mean it would reach to that level, but it still might. So that’s why it’s good to be calculative enough and make the right decisions, when you’re investing in bitcoin.

It would not be bad  to take profit when the market is good. You have to make sure that when the market is bad, you have at least gotten something from it that would make you not to worry too much about it.

[Yamifoud]

No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.

You do know that for the fact you believe in something, that doesn’t mean it is going to happen, right? If you believe that bitcoin will reach $2 million next year, that doesn’t mean it would happen. You’re simply just hoping that it would get to that level, but that doesn’t mean it would reach to that level, but it still might. So that’s why it’s good to be calculative enough and make the right decisions, when you’re investing in bitcoin.

It would not be bad  to take profit when the market is good. You have to make sure that when the market is bad, you have at least gotten something from it that would make you not to worry too much about it.

To sell some of them in order to secure your funds is ideally a wise decision. Not just because we are worried for the worse, yet it was possible, but have this gives us the way that we can still invest as our funds are intact. Those who hold their Bitcoin, that was their choice either, they are in long-term and they will hold no matter what it happens. However, to miss the opportunity of selling them at a better price and getting some profit will never be back again.

[Cling18]

Bitcoin has gone too far and it already made lots of investors millionaires and I don't think the price drop should be the reason for us to worry. We have seen how Bitcoin could reach a good price so if its value strikes down, it would still reach a better price later on. Instead of panicking, we better take every market situation to take profit.

[haasanjui]

Yes it was dipped and reached at 56k but it today it is on 59k in few some days it will come on its old price and analyst says it will reach 100k in this season.

[dupee419]

Unfortunate for me and some who were looking forward to withdraw this December but again we've experienced quite the growth these past few months and I guess all we have to do for now is wait until the bearish season is over, people shouldn't be too worried about this, esp. for the long-term holders, now for someone like me, I guess I'll have to convert some of it and try to settle investing on other coins for short-term profit.