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?
There is no need to panic about bitcoin to be in the crypto market you must be ready to accept risks. Since you have invested this money to build your empire it means that you have enough time the bitcoin market moves in cycles ups and downs are an integral part of it. If you have a long term time frame then the current decline can be seen as a temporary setback if you have a long term investment plan and you believe that bitcoin will rise again in the future then waiting for the current situation may be an option. Bitcoin has also recovered from many big declines in the past the most important thing is to wait patiently. If you do not have an urgent need to move money then it may be wise to be patient.
Anything could happen and this is something that you do need up to consider on which you do always have that back up plans for you to be making out such actions on which we do know that this market could be having its correction and thats why you should be prepared for that. If you are somoeone who do easily panics out at the time that the market would be having its correction then this do simply shows that you arent just that getting used to on how this market works and behaves. BTC drops could make out some panic but seeing with these rally on which keeping up tons of assumptions that we are that making up some short sooner or later. I have just read that there's $1B liquidation about with those bears or making ups short potion in despite of these rally. Actually it would be that giving out that kind of impulsiveness
Drops are common because we've been dealing up with an unpredictable space then it would be that normal that you would be having those doubts whether this is working or not.
Whenever the market corrects then it would be that normal that our actions will be that in being mainly affected. What matter most on here is that you do know on what you would be that doing.
Someone who do make out some struggling about getting up some conversion.