BTC flash crash: a washout, or the start of a deeper trend?

BTC's price is dropping into the 58K zone. This is liquidating those who bought BTC with borrowed money. This kind of event naturally generates different opinions.
Some people think we should buy BTC when the price is low. They believe the price will continue to rise because many who bought BTC with borrowed money are being forced to sell. Others believe the price will still fall further.
I think both sides have a point. When BTC drops because people are forced to sell, it can indeed create more opportunities to buy BTC. Prices usually stop falling after a decline. And once people stop being forced to sell, the price might even recover.
We must remember: just because BTC's price stops falling doesn't mean it will necessarily recover. Sometimes BTC's price drops multiple times, trapping those who bought when they thought the price was low.
The current issue is: people are becoming afraid and unwilling to take risks. This means that when BTC's price rises, there won't be a quick rebound. It will be slow. Maybe it won't last long either.
I'm watching: what happens to the price after BTC stops moving so violently. If people start buying BTC with confidence and the price bounces back quickly, then this drop was likely just a washout. Conversely, if not, then BTC's price might need to dip a bit further.
The key question isn't just whether BTC's price has bottomed, but more: after all this, are people ready to take risks again?
For now, we don't have an answer to that question.
Will you buy BTC when the price is low, or will you wait and see before deciding to buy more? 👇
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