With the sudden fall of Bitcoin price at this early stage of this very month of August, do we even have to see something new as in terms of getting a new price? From $69k back down to $50k as the current price, the market price was a bit strong in heading towards the $70k which was the resistance for the better part of 2-3 months ago now we have been trying to see it get to that amount or even get past it but nothing relatively positive has happened to meet up to that amount and now we have it at $50k which is not in anyway trying to go up, who's going to complain more, old investors who has been hoping for the price to continue going up or the new ones that just saw it getting to $70k and all of a sudden it went back to $50k?
New investors should be happy with the current dip because it is an opportunity for them to accumulate more bitcoin at a cheaper rate. Buying regular with DCA is the best because at times like this you will not be left out to benefit from the dip and I don't think that any new investor should worry about bitcoin dipping to $50k because that should not be his concern. His concern is to continue accumulating and building his bitcoin portfolio towards his bitcoin target with his ongoing DCA consistently and persistently because he is on a long term investment and bitcoin will surely recover and even go higher above $100k in 4 years time.
So this is a good price and time to take advantage of the market instead of panicking. Old investors are already used to bitcoin price movement and it is a norm to them to continue hodli without fear because many of them are already into good profit due to the compounding effect of their bitcoin portfolio. But the truth is that nobody loves to see the value of his bitcoin investment going down due to market dip.
Thinking of accumulating for new investor is the only thing they should be concerned about before they don't have much to worry, in no time the price will go up in their favor but old investors should be the ones to be afraid of losing especially when it gets down to $45k which I'm not hoping it will but we have to tell ourselves the truth, Bitcoin price when it wants to go down it does it in a way that you ask if you're doing the right thing.
The old investors might be familiar with Bitcoin price dropping but I don't think is all that have the patience and the time to stay focused rather than panicking, that too is normal for every holder, so I believe this particular drop of BTC has made many to start tapping their panic button, but is not yet time for that but wait for the market price to take a new turn.