Came back from my crypto retirement to tell you something.
I see many people being fooled by the media and stock traders. They treat bitcoin like a tradable paper where the market decides their next move. If it goes above their entry level they take profit and if it goes below the entry level they sell at a loss. In reality bitcoin is a commodity, like a house and thinking this way will maybe help you in times like this.
So, you bought a house for $1m and a year later someone offers you $900k for it. Will you sell it? Why should you? If you're not in debt, have money to pay your bills, you won't sell it, right?
The bitcoin market is exactly that. It's a bunch of people offering you money for your house. A month ago they were giving you a million, now they're only offering 800k, maybe next week they'll say their last offer is 700k. Don't like the offer - don't sell! I know that my bitcoin is worth more than 100k and I don't care that they now want to pay me 78k. I'll wait for them to come back to their senses and come up with a better offer. At this point I wouldn't be satisfied with anything 5-digit.
One more thing. In a worst possible outcome for bitcoin I see it at 150k in 2 years. If you know an investment that will offer you over 50% a year on the average, just get rid of your bitcoin and do that.
Have no regrets, you only live once and life is too short to worry. If you don't know anything like that, hold bitcoin and chill. Again, life is too short not to hold any bitcoin and regret later when it's back above 100k.
Investment decisions would always matter on someones mentality on which its impossible that they wont be able to assess up on which option is much more better or worth to deal on with. It isnt that had when you are really just that on your senses because if you dont think up well or having some analysis then you might be ending up on the wrong option. For recovery of price then the market do only have that two possible movement on which it is trying to get up or going down. It all depends on several factors in speaking about investment results whether it will be ending up on positive or negative. Just make it sure that you wont be finding yourself on believing on things on which arent supposed to believe. There are those moments or times that our mentality is fixated into something and even its already wrong but still we are following it out.
Well, it is really our time to accept that the market is volatile. But those who were not able to understand this will find themselves annoyed and disappointed when the price of Bitcoin dumps and do panic selling. Like in the past years, many investors sell their Bitcoin at a loss, thinking that will be the end. Perhaps the current situation always reminds us that investors don't make money too quickly. They buy now, hold for a while, and sell later. But it is too unfortunate that many were still rushing and out of their minds when sudden drops happened.
People resort into panicking because they are putting money into bitcoin which they can’t afford to lose. I doubt if they really are unaware about bitcoin’s high volatility and its price fluctuations. They knew already but since greed motivates them to invest, they easily get affected every time bitcoin drops low and reaches its dips. Unfortunately, investors like this do not fit for bitcoin, that’s the reason why a lot are losing and only few make significant gains.