While not fun, this dip is still likely just a bump in the road on the way to higher prices...
While pullbacks are never fun, they often are needed to flush out the leveraged longs and get some short sellers involved as fuel for the next leg higher....
There are several reasons to continue to be optimistic about what is going on today, mainly because it's still not doing anything that different than it's always done.
And if that is the case, it's probably a buying opportunity:
It just completed the first stage of what is likely to be a 3 stage bull market.
Bitcoin sees a number of patterns that tend to repeat during it's bull market and bear market phases.
These phases make up the 4 year halving price cycle.
The interesting thing about the bull market phase, which is what we are in now, is that we tend to see 3 distinct surges.
Looking something like this:
So far, these surges have played out in a similar fashion 3 out of 3 times.
Currently we just saw the first surge peak recently as shown on the far right side of the chart above.
Going off of past patterns, we could probably expect to see at least 2 more of these surges before BTC eventually tops out.
The 3rd surge tends to be the largest of the 3.
Buckle up, it's going to be a wild ride from here on in.
Stay informed my friends.