Quote from: Faisal2202 on March 13, 2023, 08:53:18 PM

Quote from: FireDAOJackie_Z on March 10, 2023, 09:17:08 AM

is this still a good time to invest in Bitcoin ? What do you think of the recent drop of Bitcoin price ? Please share your views.

Hmm maybe it's a bit late for me to reply but let's say the word. Yeah, when BTC was below $20k it was a great opportunity for investors, hodler, and traders but it does not mean that the market will not provide another opportunity you just have to be patient. Now as of writing this reply, BTC has reached close to $24,232 which is just unbelievable for the market to recover.

The market has provided a lot of opportunity in the last few weeks, First, it was a ban on Kraken Exchange's staking system in the USA then the news that was booming on crypto of SEC suing Binance for BUSD and now Binance (as of present) converted there BUSD reserves to other coins like BTC, ETH, BNB, etc. to decrease the impact if it de-pegged.

Secondly, the news of Silvergate bankruptcy also causes some fluctuations in the market which no doubt cost some traders who took entry b/w 23k to 25 but I can say as of today they must have recovered there most of the loss and maybe made some bucks in profit.

Thirdly, the bankruptcy of Silicon Valley Bank (SVB) behaved like a third-time hammering on the nail which was hammered first and second times. This hammering by SVB provides another opportunity for all of us.

What I think is, when people shrank their deposits from SVB they need some other source to invest their assets which I think is Crypto. That's why when the week starts the institutional markets open up and the big candles started to make. And boom BTC goes straight to $24k.

If you want to invest or take entry into the market then I must say DYOR ( i love these four magical words) haha. because it saves effort and weight. I think a little patience will do the work as maybe another de-pegging of BUSD will provide another opportunity. overall I am bullish for the long term if you want to buy BTC for hodling then buying it at $24k is a good opportunity overall, it depends on your financial status all I can do is share my opinions and once again do not follow anyone just follow your guts and build confidence (once again I am just sharing my thought that it.)

Thanks for sharing your thoughts. You have done abundant research and I guess you are not on impulse. The analysis of the everyday news is quite necessary and each of us must learn to have a critical thinking. As the Bitcoin price surges again, more confidence will be built for new investors/traders. I am pretty sure we will witness another ATH. Just be patient.