BTC has crashed below $70,000, falling to $68,000. We once thought $70,000 was the “iron floor” that this bull market would never fall back below. Today, it has become the “ceiling” trapping investors.
The cruelest rule in crypto is always this: when you think you’re buying the dip, the big players are only just beginning to shake out the market.
Expectations of renewed macro rate hikes are back, and U.S. tech stocks are leading the plunge. The wave of liquidations after Bitcoin broke below $70,000 is just the appetizer. If this drop has you losing sleep, feeling panicked, and unable to resist adding to your position to bring down your average cost, remember this: don’t try to call the bottom in a downtrend. Surviving is ten thousand times more important than buying at the absolute low.
The cruelest rule in crypto is always this: when you think you’re buying the dip, the big players are only just beginning to shake out the market.
Expectations of renewed macro rate hikes are back, and U.S. tech stocks are leading the plunge. The wave of liquidations after Bitcoin broke below $70,000 is just the appetizer. If this drop has you losing sleep, feeling panicked, and unable to resist adding to your position to bring down your average cost, remember this: don’t try to call the bottom in a downtrend. Surviving is ten thousand times more important than buying at the absolute low.