The current decline is very deep, I didn't expect it to be as drastic as it is now, currently the price of Bitcoin has fallen to 54k and I think if we wait for the price spike it will take a little longer.
And for those who buy and keep it for a long period of time/invest for the future, of course during a drastic decline like this is a pretty good time to buy as much as possible.
Even though the price of Bitcoin is currently slightly down, you should be in a buying trend because the bull run is imminent. You should make the most of these dips and buy more bitcoin as you see your investment stronger. You keep increasing the amount of bitcoin stack that can fetch higher value in the future. Basically, you can increase the size of your Bitcoin portfolio through proper timing. Lots of buying and holding on dips.
Based on existing data on coingecko, the price of bitcoin has fallen by 3% in 24 hours (as I write), while the decline has reached 6.4% in 7 days, 11.5% in 14 days and 20.2% in 30 days. How can you describe it as a slight down? For me, this is quite a big down, especially in the last 30 days where you have lost 20% of your total asset value due to the decline compared to the previous 30 days.
Maybe it's not your problem to know whether the person you are advising has the budget to carry out accumulation or not, but what is certain is that accumulation in current market conditions is recommended, especially for those who are able to do it. Rebuilding the portfolio by accumulating more bitcoin is a good advice, but it should only be done by those who have the budget and believe in the recovery potential in the long term.
20% in 30 days is not a slight down but the same is true if he compares bitcoin's correction with altcoins. As we all see bitcoin is only down 20% in 30 days but many altcoins are down 60%-70% in the last few days and that is actually a much more severe drop. This further shows the harshness of the market as well as the enormous risk when someone chooses to invest in altcoins.
Buying more BTC when the price drops is no longer strange to all of us but we need to balance our budget. What I see is that many people are starting to be subjective because they think this is the last correction before the bull season comes and they are entertaining the idea of borrowing money to invest more in bitcoin. This is really too risky and not recommended.