I am relatively new on this and was just invited by a friend to join. I sold mine months ago so I really don't have much. I was thinking that I would have been deathly afraid if I had any bitcoin and this happened. I know it isn't the first time so maybe it will be a good time to buy?
You must be new. Do you know how many times bitcoin has risen and fallen? It happens daily to a lesser extent, but swings of around $100 aren't that uncommon up or down, and they can fall by a hell of a lot more and that can be worrying sometimes. Whether this scares you or not depends on your outlook and vision for bitcoin, though. It certainly wasn't nice seeing bitcoin fall from nearly $20k to $6k or whatever it was, but on the flip side it was very exiting to see bitcoin go from sub $100 to $1000 and then $1000 to its all time high. You have to expect this wild ride with bitcoin though, but if you believe in it long term you shouldn't be that worried as bitcoin is probably still in it's infancy in the grand scheme of things, but nothing is a guaranteed and I think these fluctuations are just part and parcel of bitcoin now. If you can't handle them then bitcoin probably isn't for you, but if you do believe in bitcoin long-term then yeah, it's probably a good time to buy. As I said though, nothing is guaranteed.