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



BTC price dropped 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 go up because many people who bought BTC with borrowed money are forced to sell. The other group thinks that 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. Maybe it even goes back up 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 go back up. Sometimes the BTC price drops several times and that traps people who buy when they think the price is low.
BTC-0.42%
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