if it goes parabolic for too long, then I feel it makes take longer to recover in the longer term after the correction. This kind of dip or down, makes me think we have not see an all time high yet, and that the price has a higher floor.
I know the dip is just for a time being I hope it won't turn into any sort of a parabolic but today I am a little disappointed with the bitcoin price as I am in need of cash and I want to change a little of my holdings into fiat. As it's at the same time and opportunity for the buyers because currently bitcoin price is less than $4k. I can wait for two working days only to sell my bitcoin, let's see what happens to the price in the next two days if it remains lower than $4000 then I am not sure I am gonna sell my bitcoin. If it goes higher then I will be delighted. To those who are looking to buy bitcoin it's the right time, it seems like bitcoin is gonna recover it's price soon giving you people a handsome amount of profit.
Every dip is an opportunity to buy at a cheaper price and people who are interested to enter Bitcoin or add more on their arsenal have much better opportunity right now. Days or weeks after there is a big possibility that Bitcoin can rise again and then the profits will start trickling in. Those who have the plan to hold long-term should decide now whether it is time to be a part of the Bitcoin bandwagon as the time has come. Those rumors about China are still the alibi why the market is on the dumping mood and am already tired of that...hope that by next week the market would choose to ignore this China thing.