Bitcoin Plunges!

It looks like Bitcoin after hitting record highs of over $60,000 has finally taken a tumble and is currently trading for around $27,000.

It looks like this wasn’t exactly a planned dip as now it’s become clear that it is the short-term holders who have been locking in their highest profits since November 2021.

It’s Not All Bad News!

Sure it’s a big drop and not just for Bitcoin, but the fact is that it has still been the best-performing asset of 2021. Plus, this drop hasn’t been as fast as some people have been expecting either.

It looks like this may even be a sign of stabilization for the time being as traders take a break from the market.

Weirdly Comforting!

In a way, it’s kinda comforting to know that Bitcoin isn’t invincible, and can suffer this much of a dip in such a short amount of time.

So What Now?

It looks like it could be the best time to jump in and purchase some Bitcoin, as long-term holders will understand what this dip really means and can easily buy low and profit later.

A Few Tips:

  • Don’t Panic! – Panic selling will only cause you to lose money and put the market into a bigger dip than it already is.
  • Be Patient! – Don’t try to jump in to quickly as this could result in overspending.
  • Be Prepared! -Research what you’re investing in and stay informed of any market changes.

Even though a drop was inevitable at some point, this doesn’t mean that it’s the end for Bitcoin, and if anything this could be the start of something new.