How can you not panic if BTC price in less then 4 days has decreased by 1000$!? Since everybody thought that previous price increase would turn out to be an uprising trend it turned out to be a reverse.
I'm not a true newbie here so I'm already a bit acquainted with such behavior but just imagine how rookies and newcomers could react to such fluctuations.
I'm not a true newbie here so I'm already a bit acquainted with such behavior but just imagine how rookies and newcomers could react to such fluctuations.
It is normal react like that, even if you have already some experience. We dropped below a critical support level, below an important Fibonacci retracement zone. Technical Analysts recommend to get out of Bitcoin or alts as we head toward 3k. I would stay calm and rather this as a buying opportunity. The ETFs still has a good chance to be approved this year and new money will flood into the market, this is only a delay.
By the way in Russian topics a lot of experienced users don't consider ETF to be a cure for the market. We'll see that.