Is over 3 months now btc is experiencing lost, in my little way I use 1 million naira to invest and ever since then I don't feel like sleeping because my money keeps dropping every now and then, I don't know how long this drops is going to continue because am scared the little money I thought will built empire is shrinking to 200k. Please what's causing these deflection of cryptos and markets. Or should I remove the remaining balance?
It is high time we understood that bitcoin is not a safe heaven for getting rich instantly. At least it takes time for whatever investment made to grow whether physical investment or digital as in bitcoin. In the case of bitcoin, you have to invest at the right time for you not to feel you are losing your money immediately you invested. If you enter at the right time then the volatility will help you rise above that point you bought and if it keeps rising then you make further profit.
There are ways you can know when to spot your right entry position and that can be deciphered if you are using chart. With chart you can technically analyse or see where the price action is tilting towards before you decide to buy. Also, with the chart you will know the low end high from where you can take your and position and usually, it is better to buy from low because it will give you more profit when it starts to rise.
So maybe you bought at a time that the price is retracing for correction and you jumped in to catch the falling knife.
However, bitcoin has the capability and capacity to bounce back to your entry position where you can recover your capital especially at this season unlike altcoin or shit coin.
I don't encourage you to sell at such loss. Hodl a little longer and this is the reason it is advised to invest what you can afford to wait to recover or invest with money that you don't require back urgently.