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?
No need to complain whether be it a new investor or an experienced investor, bitcoin investment is all about staying patient. It's better to view every moment that presents itself in our bitcoin investment as an opportunity to grow our investments for more and higher profits because bitcoin always was come through despite its decline in price. Experienced investors can apply their knowledge during price drop to accumulate more Bitcoin at low price because its better to purchase bitcoin when the price is down in other to capitalise on the potential profit when the price rises again. In moment when there is a sudden decline its important to engage in critical thinking, by seizing market fluctuation opportunities that is present and having the faith or the belief of more profit when the the price goes up.
The question is are you having that patience you talked about as an investor? Many are very afraid of losing even if it's a pin, you don't expect everyone to be cold blooded when it comes to funds to start an investment with, some goes as far as to borrow just to meet up and be part of those who invest in Bitcoin. Fine the market price gives us every clear moves it takes but we don't know when it will drop or increases and we have to accept it the way it is and wait for the positive outcome but is never easy in anyway.
Buying when we have the price dropping is not a bad idea and if you check some of what Mr double
JG said, he said something about how he managed his own Bitcoin investment during 2015. It is indeed an opportunity but what happens when it keeps going down to let's say $43-$45k? After buying at $53k you discover that you have nothing close to gaining and you know Bitcoin doesn't just goes up like that, it takes time and that's where the fear comes in to make many start selling, to me it has to do with how calm you are when you're being pressured.
Exactly, so many persons are so scared about Bitcoin movement and sometimes I ask myself if they know what they actually signed for because if someone who calls himself/herself investor is scared of the market behavior then that person is not worthy to be called an investor. As long as investment is concerned there's always a risk and before venturing into any investment it means you are ready to face anything and one thing some people don't know is that whenever you invest in Bitcoin, no matter the Dip you can't lose your coin but rather the value will drop.
The fact that we are not certain about Bitcoin shouldn't make us have the feeling that Bitcoin will Dip and never rise again, before now we all already know that Bitcoin is volatile and one thing I want us to know is that, the volatility of Bitcoin doesn't know or have limit that is why anything is possible it can get to $100k and above today and it can also go below $30k today so we shouldn't be dismayed. What makes people great is being positive at all time and seeing beyond what is happening around.