#STRCHitsAllTimeLow

BTC Flash Dump. Shakeout or Start of a Deeper Trend?
BTC price drops to the 58K zone. This wipes out people who bought BTC with borrowed money. This is what makes people have opinions.
One group of people says we should buy BTC at low prices. They think the price will rise because many people who bought BTC with borrowed money are forced to sell. Another group thinks the price will still go down.
I think both groups have a point. When BTC price drops because people are forced to sell, it can create an opportunity to buy more BTC. The price usually stops falling. It might even go back up when people are no longer forced to sell.
We must remember that just because BTC price stops falling doesn't mean it will go back up. Sometimes BTC price drops multiple times and that traps people who buy when they think the price is low.
The problem now is that people are getting more scared and unwilling to take risks. This means when BTC price rises, it won't be a quick recovery. It will be slow. It might not last long.
I am observing what happens to BTC price after it stops being very volatile. If people start buying BTC confidently and the price quickly goes back up, then this price drop might just be a shakeout. If not, BTC price may still need to drop more.
The big question is not just whether BTC price has hit its lowest point. But whether people are ready to start taking risks after what happened.
Right now we don't have an answer to that question.
Will you buy BTC at low prices or will you wait and see what happens before buying more? 👇
#BTC #Crypto #Market $BTC ‌