Btc continues to fall sharply, why?
Btc, which reached high on Sunday, exceeded the price of 1 kg of gold and attracted all the attention. The price adjustment in the dollar was expected, but not expected to be that drastic. or was it expected?
Elon Musk said that Btc and Eth are above their value. And then critical remarks by US Treasury Secretary Janet Yellen and Bill Gates caused cryptocurrencies to fall hard. Such statements often make individual investors nervous and panic.
Btc dropped 17% yesterday, today it fell more than 10%. The cryptocurrency, which broke a record by approaching $ 59,000 over the weekend, was drawn to $ 46,000 after the last sales. A similar decline occurred again recently, with Btc falling from $ 42,000 to $ 28,000. Then, with its turn upward, it soon reached its former value again.
I think Btc and Eth will go back to the same high again. It's great if you're selling profitably, but panicked sales at a loss always cause you to lose. The sharp drops in Btc, Eth and strong cryptocurrencies can sometimes be a great opportunity for investment.
This point is very important, when I look at the markets, the price decreases, but the purchase and demand is higher than the decrease. In my opinion, the high purchase demand is an indication that it can recover again.
"I do not give investment advice, I just guess by following the world news. Sudden losses in value can happen anytime, things can turn around, but I always believe that cryptocurrencies will gain more value in the long run. I mainly invest in Btc, eth and some coin that I trust."