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

BTC price drops into the 58K zone. This wipes out people who bought BTC with borrowed money. This is what makes people form opinions.
One group says we should buy BTC when the price is low. 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 go down.
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 once people are no longer forced to sell.
We should remember that just because the BTC price stops falling doesn’t mean it will rise again. Sometimes the BTC price drops several times, trapping people who buy when they think the price is low.
The problem now is that people are becoming increasingly afraid and unwilling to take risks. This means that when the BTC price rises, it won’t be a quick recovery. It will be slow. It may not last long.
I’m watching what happens to the BTC price after it stops being highly volatile. If people start buying BTC with confidence and the price rises back quickly, then this price drop might only be a shakeout. If not, the BTC price may still need to drop further.
The big question isn’t just whether the BTC price has reached a bottom. But whether people are ready to start taking risks after what happened.
At the moment, we don’t have the answer to that question.
Will you buy BTC at a low price, or will you wait and see what happens before buying more? 👇
#BTC #Crypto #Market $BTC ‌