Bitcoin Price Drop – Buy the Dip!
If history has taught us anything, a drop such as this is not bad and is actually a good thing for those with strong hand – Bitcoin is currently at 44463 which is cheap Bitcoin compared to where we are headed very soon
From $65,000 to $42,000 in a Month: The Worst Bitcoin Correction During This Bull Run
“According to the graph, BTC’s price recovered after each of the price slumps experienced in the current run. On average, it took the cryptocurrency between four and five weeks to regain all lost value and even chart a new high.
This raises speculations about whether bitcoin could pull another rabbit out of its hat now and do it again. After all, this is ‘only’ the fifth correction in this cycle, even though it’s the largest one.
This could be somewhat challenging, according to on-chain data. As reported earlier, some investors have started to deposit large amounts of their coins onto exchanges, which could increase the selling pressure and bring further declines in the short term.
Nevertheless, BTC’s fundamentals remain solid. Miners and long-term investors refuse to sell, institutions keep accumulating, and the network’s hash rate recently reached a new all-time high as well.”