I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.
For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.
It is very similar to what we saw back then, the markets hate uncertainty and the pandemic has been full of it, the new variant of the virus seems to be one of the most dangerous to date, so the international community is very worried about it as they fear that we may have to go to square one and live once again the days in which the majority of the population of the world was under lockdown, and all of this when the economies of the world have not recovered and the inflation is already very high.
They are right, in fact in 2020 almost all the speculative markets fell, Bitcoin also fell a little, of course it is the effect of the panic exerts its pressure on the market, however for that year gold did not fall much either, but of all the Speculative markets, the one that first recovered quickly was BTC, I think it was nothing more than the emotion of the moment that causes many investors to extract their money and put it on a safe side, but since this pandemic is something very strong, no It is known that it can happen in the market, but now there are some slight falls, but I am sure that the upward trend will not be affected.