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.
You are a long term hodler and yet you are still wondering on why those things are happening? It is normal for a price to go down again after it increases because there might be people who take advantage of that small pump. Also there might be factors which have affected the price in a negative way. The price can be steady sometimes. Can't you see that we have stayed on 20k for so many weeks last time?
But, it's not possible for a price to remain stagnant forever because we are not talking about stable coins here but we are talking about volatile coins. At the moment, we don't know if the dip will continue or not but if yes then you better buy and just continue hodling since you said you are a long term hodler. There is no need to worry about your side.