I see my portfolio has lost around 5% over the past couple of hours. So I searched the internet expecting to find some kind of explanation to no avail. I figured another govt issued a negative statement regarding crypto or something. But that doesn't seem to be the case. If anything, the news stories about crypto seem to be positive today. So can anyone tell me what causes dips like this?
Also, at what point are you guys prepared to sell to protect against a crash? Do most of you have sell stop orders on the books to protect against a crash? Thanks in advance!
Do not worry about 5%,,, do not even worry about 50% or more. This is Bitcoin and you will see crazy rallies of price doubling in a few days and also of 80% losses in a single day of 24 hours as happened in March of last year.
Volatility is natural here just be patient and wait for things to happen. I speak as a hodler though not as a trader.
Reasons are not important (trust me,,, you sleep better).