BTC Flash Dump. Shakeout or Beginning of a Deeper Trend?

BTC price drops to the 58K zone. This wipes out people who bought BTC with borrowed money. This is something that 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. The other group thinks the price will still fall.
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. Maybe even rises again when people are no longer forced to sell.
We must remember that just because BTC price stops falling, it doesn't mean it will rise again. Sometimes BTC price drops several times and that traps people who buy when they think the price is low.
The problem now is that people are increasingly afraid and unwilling to take risks. This means that when BTC price rises, it will not be a rapid recovery. It will be slow. Maybe it won't 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 rises back quickly, then this price drop might just be a shakeout. If not, BTC price may still need to fall further.
The big question is not just whether BTC price has hit a bottom. 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 low prices or will you wait and see what happens before buying more? 👇
#BTC #Crypto #Market $BTC ‌