Post
Topic
Board Speculation
Re: Bitcoin in Freefall, What to Do?
by
Oasisman
on 28/11/2020, 11:23:24 UTC
So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

Typically a newbie question. Can't blame you though.
First thing to do is don't panic and make an assessment whether it's the right time to sell or to hold still.
I'm assuming, before someone enters the cryptocurrency market or buy Bitcoin, he should set a specific target range before selling. Without the target, you might be putting yourself at risk of lossing specially when you're panic selling while Btc is falling down hard.

At this current rate, I don't see Btc going below $15,000. It might bounce back stronger after this short market correction. Extend your patience for a little while.