Bitcoin is on a discount now

[El Emperador]

I agree that the price under $70k can look like a discount if you believe in Bitcoin long term. Many people said the same thing during previous corrections and those who held through the volatility ended up doing well.

That said, telling people to sell everything and go all in is very risky advice. Nobody can predict the market with certainty and Bitcoin has always had strong corrections even during bull runs. It can go lower before it goes higher.

For long term holders this kind of price drop can be a good opportunity to accumulate, but it is usually safer to buy gradually instead of going all in based on a short term prediction.

Also the idea that Bitcoin will reach $200k to $1M in a few weeks sounds unrealistic. Big moves take time and usually come with several pullbacks along the way.

Bitcoin may still be cheap compared to where it could be in the next few years, but risk management is still important. Never invest more than you can afford to hold through volatility.

[Hanadawa]

-snip-

Gradual purchases are a good idea because $70,000 doesn't necessarily mean Bitcoin has bottomed out. There's still a chance the price will fall again. For long-term investors, and I personally, I believe Bitcoin will recover and break through $100,000, but that will take time and is unlikely to happen anytime soon. Furthermore, it's important not to invest all your assets in Bitcoin, as it remains a high-risk asset due to its highly volatile price. You can buy gradually while monitoring the market and global issues that may affect the price.