Quote from: pixie85 on May 13, 2021, 08:03:49 PM

Quote from: riiiiising on May 13, 2021, 06:47:18 PM

It is not a given that Bitcoin bounces back quickly. Look at the current situation, are you sure it will bounce back shortly or are you unsure what will happen next? I don't know and I am not buying now because it is complicated to make a proper assessment.

Here's where fundamentals come into play.

I've been here for some time. Maybe not as long as people who bought in 2012 or 2013, but long enough to see a couple repeating things on the charts.

If the fall is right after a peak and the price corrects this means we were overextended. This means a healthy correction. People are selling to take profit.

If the fall comes after news unrelated directly to BTC like a ban somewhere, an exchange hack, someone saying something bad about bitcoin, it's going to be a weak hand shakedown and a panic sellout.
If you see this, make sure to buy more because it will come back as fast as it fell.
There were many such crashes like when the US closed borders in 2020.

But you forgot abut the resistance that Bitcoin built over time against bad news. A hack or a ban doesn't impact Bitcoin the same way it did 7 or 5 or 3 years ago. That is why I don't like to presume that all patterns repeat and whenever a hack happens Bitcoin plunges X%. It is possible that the market and the hype just overheated and the price is simply too high for what Bitcoin is able to deliver at this point. People thought Bitcoin would turn around all the way down from 20k in 2018, but it didn't for years.