Somehow I believe we have enter the bearish season because the level of this Dip was really massive, check where the price of Bitcoin was and where it Dip to and for those that are still waiting for price to Dip more they are really wasting time because the price will surge from here soon.
I would not consider a 10% dip to be massive, and surely there is not way of knowing if the dip might be more from here or not. It is not unusual for various dips to take place with bitcoin, even though perhaps every time dips happen folks try to proclaim that this time is different blah blah blah.. and maybe it is different, and maybe not. It is not a good practice to get overly presumptive about the short-term price, even if everyone (or nearly everyone) is expecting BTC price to reach $180k or larger. I certainly expect that there are good odds for BTC reaching $180k or larger in the coming 1-10 months, yet still I understand that there is also a possibility that the top for this cycle is already in at $124.5k... and yeah, it is possible to have both scenarios in our head at the same time and to be financially and psychologically prepared for either scenario or some other variation.
You’re right sir, and I agree with you that it’s not a good a practice to get overwhelmed or overly presumptive about the short term price, and come to think of it a 10% isn’t something massive and be excited about as it’s too early because everyone who truly understands the dynamics of bitcoin will know that anything can happen at any time, there’s every possibility that even though there’s a little 10% drop now, there’s a possibility that in the next few minutes we’ll be witnessing even more that a 10% increase. So for me, I suggest that everyone should just calm down and focus more on figuring out a discretionary income to continue accumulating bitcoin no matter the price with their on going long term strategy of consistently or persistently accumulation of bitcoin and hold for the long term goal and gradually build up their portfolio. Sometimes, people who gets overly excited or emotional when they noticed a little downturn in the market are traders who are in for a short quick profit making mindset and not really a true investor.
I understand this because we monitor Bitcoin's price movements almost daily, but it's unethical to overreact to the current decline. Overall, if we look at the price over the past few months, the current decline is nothing compared to the recent increase.
Personally, I believe that price history, as seen over the past few months or years, can be a useful guide for predicting Bitcoin's price. Indeed, August and September always experience price corrections, but they recover quickly afterward. So, I'm taking advantage of this decline to buy a little more than usual, regardless of the extent of the Bitcoin price correction. I'll welcome it positively.