[1] In the present condition of the Bitcoin market do you think as a Bitcoin user/holder/accumulator, do you think that the current price will hold or go down more?
If Bitcoin could go down even more,
That’s the likely scenario. Bitcoin haven’t shown any promising move towards a more bullish direction or formation. It’s been in a ranging market and a ranging market is one you shouldn’t have any high expectations on as it could either break towards the bulls or bears. One thing I think tough, it would be very difficult for price to dump below $50k.
[2] If not then what do you think is the reason a weak hand/newbie is in the panic mode?
Weak hands for sure,
Coupled with the fact that, Bitcoin is reported to have sold more volume over the course of last week than it has ever done. The German government is reported to have decided to sell a large amount of its holdings and by some means, this contributes to the market condition we have today, where we find price dumping.