Bitcoin's market price has suddenly dropped from a high of $123k to $118k. I don't think it's time to panic completely, but it's time to be cautious and patient.
Some in-depth economic or technical analysis, self-control and a risk-taking mindset, and confidence in long-term goals are the most effective steps to take during this price fluctuation.
The fluctuations in the price of Bitcoin are not new or strange for people to be worried about. When investing in Bitcoin, one should focus on the long term because this is the only way Bitcoin can be effectively invested. This is not a time for people to panic about the price of Bitcoin, as I feel people should have grown past this level. Buy Bitcoin and hold; it is important for one to keep in mind that the goal is not to make quick money, but to buy Bitcoin and invest knowing that it is a long-term investment.
Bitcoin investment is not something one should rush into expecting to make a quick profit; it is an investment that one needs to understand and be ready to exercise patience when holding Bitcoin.
Do you have a long-term plan in Bitcoin during these volatile times?
Bitcoin investment is all about the long term, and Bitcoin is always volatile. Bitcoin can always be invested in; there is no perfect time to invest in Bitcoin. It is not a bad idea to buy Bitcoin and hold, as the price at which Bitcoin is bought is not something to consider when deciding whether it is good to invest in Bitcoin or not.