why does everyone start to panicking when they see the price of Bitcoin dropping so much, in my opinion it is natural that the price of Bitcoin falls because Bitcoin has experienced the same thing as now, so I suggest not to be afraid and panic.
we will see from this graphic :
1. On April 29, 2013 the price of Bitcoin was only $ 135.30
2. and on November 30, 2013 the price of Bitcoin increase high at the price of $ 1,149.14
3. then on January 2, 2014 the price of Bitcoin decreased at a price of $ 773.40 and on December 31, 2016 the price of Bitcoin began to increase again
4. and the price of Bitcoin began to rise high at the price of $ 19,783.30 on the 17th of December 2017
and as we know, now the price of Bitcoin at $ 6,948.46 and this is indeed down very far compared to prices on December 17, 2017, but it has already happened in 2014 where the price of Bitcoin dropped very far and it continues until 2016 and in 2017 finally Bitcoin prices start to increase again (it takes around 3 years to make Bitcoin prices rise). so from that, I'm sure the price of Bitcoin will increase again even though the time needed is not short.
That is the fact panic is a very bad occurrence in the cryptosystem which always leads to disaster in the price of the bitcoin due to the fact that when panic occur it always lead to low demands which always bowl down to price falls, and panic is always cause by FUDS who always spread fake rumors in other to take advantage of the market. So my advice is that we should always try to have patients and at the same time hodl during any panic time.we will see from this graphic :
1. On April 29, 2013 the price of Bitcoin was only $ 135.30
2. and on November 30, 2013 the price of Bitcoin increase high at the price of $ 1,149.14
3. then on January 2, 2014 the price of Bitcoin decreased at a price of $ 773.40 and on December 31, 2016 the price of Bitcoin began to increase again
4. and the price of Bitcoin began to rise high at the price of $ 19,783.30 on the 17th of December 2017
and as we know, now the price of Bitcoin at $ 6,948.46 and this is indeed down very far compared to prices on December 17, 2017, but it has already happened in 2014 where the price of Bitcoin dropped very far and it continues until 2016 and in 2017 finally Bitcoin prices start to increase again (it takes around 3 years to make Bitcoin prices rise). so from that, I'm sure the price of Bitcoin will increase again even though the time needed is not short.