A couple of weeks ago I was excited that bitcoin price had gained 23k+. I was positive that it was going to at least stay steady at that point for some and the go up gradually, but boy was I wrong. On Twitter this user -
Richard Heart, tweeted "Pray that #Bitcoin doesn't hit $11,000. For if it does, the sound of me patting myself on the back will be heard around the world."(What does this even mean?). Anyways, I decided to open my Binance app(I do not check the price daily. Is this normal?) only to find out that the price has plummeted to 20k. Honestly, I am not perturbed at all because I am a long term hodler. But why can't the price stay steady? Are we moving towards the dippest part of the dip? Just wanna know your thoughts. Thank you.
FYI, the price of Bitcoin never stayed in a constant region for very long time, it just keep moving upwards and downwards all the time due to many reasons affecting the economic structure of this world. Currently we are in the bear market because after the price touched $65K the price started to move downwards and now we are in the region around 20K and also nobody can say how low it can fall and when it will rise once it reaches its lowest value.