BTC Flash Dump. Shakeout or the Start of a Deeper Trend?

BTC price dropped to the 58K zone. It wipes out people who bought BTC with borrowed money. This is what gives people opinions.
One group says we should buy BTC at the low price. They think the price will rise because many people who bought BTC with borrowed money are forced to sell. The other group thinks the price will still drop.
I think both groups have a point. When the 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 rise again when people are no longer forced to sell.
We must remember that just because the BTC price stops falling, it doesn't mean it will rise again. Sometimes the 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 the 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 the BTC price after it stops being very volatile. If people start buying BTC confidently and the price rises back quickly, then this price drop might just be a shakeout. If not, the BTC price might still need to drop further.
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.
Currently we don't have an answer to that question.
Will you buy BTC at the low price or will you wait and see what happens before buying more? 👇
#BTC #Crypto #Market $BTC ‌