Since the bull market started last quarters of last year, we have seen more increase and minor retracements(often gradual retracement) but the last seven days have been very challenging for the Bitcoin market. The same period should be the first time in a long time that we are seeing Bitcoin price drop by 24%, a figure I consider a retracement. In the last 24hrs, Bitcoin have dropped over 12% in price which is the highest drop in price experienced in24hrs since last quarters of last year. The picture below is the data gotten from Coinmarketcap.
https://www.talkimg.com/images/2024/08/05/5swpZ.pngTo the average investors, this can be very troubling as many will be considering to sell to avoid further depletion of their asset. But is this the right thing to do? Do you plan to sell now to avoid further loss?
Many people in some of the groups I know are thinking about converting to USDT to convert back to BTC after the rainfall stops but I don't thing this is a wise decision. Personally I have resolved to continue buying this time. What do you think?
For every smart investor this could be probably the best moment to invest, this could just be the best time to buy more bitcoins, who knows, just may be after this stormy weather there might be some positive changes so rather than do the rush hour sales it would be better to hold on and wait for that moment when it would more favourable for you so you can smile to the bank when others regretting their actions after selling their coin, it takes patience to obtain the price remember, no pain , no gain, this could be the time to buy more because if you re buying then you are at advantage, only the smart may understand this theory.
