The 7-day chart for Bitcoin looks pretty brutal. I think we're all just watching and waiting to see how low it is going to go. Hopefully not too much lower, not that I'm planning to sell any but I think we all enjoy seeing Bitcoin in the 6-digit range. One thing is clear... The market traders have been embracing the Sell Sell Sell lately. I worry we're only going to end this drop with a massive volume shakeout and who knows what sort of cascading liquidations that will bring. It might be the time to hold on for dear life...
The chart is brutal for sure but should we be moved to sell out of panic? NO. Surely, we love to see the price at 6 figures but does it really change anything? because corrections will always push the price below the six digit mark due to the actions of those fearful fucking traders. It's just obvious, these traders are giving institutional investors the privilege of buying more below the 6 digit price point but i like the fact that the price still hovers around $93k regardless.
I think it is better to say that we're hodling till we build a great treasure in bitcoins than to say ''it might be time to hold for dear life'', We can't hodl forever.