Should Bitcoin buy at the bottom when it drops?
Let me inject some confidence into everyone again and interpret the current market valuation situation. There is no doubt that judging from the fourth halving of Bitcoin, the overall market has just entered a new chapter. Bitcoin has exceeded the highest point of the last round of halving market, which undoubtedly heralds the official start of this round of market.
The current market correction can be seen as an expected reaction to the upcoming Federal Reserve meeting on March 21. Considering that the non-agricultural data and CPI performance of the United States this month were not satisfactory, this adjustment of the market is also reasonable. I have also discussed these issues in depth in yesterday's article: At this critical time point in March, will the market continue its upward trend or experience a sharp correction? The meeting decisions of the Federal Reserve and the other two major central banks in the world will reveal the answer to us.
As for the choice of investment currency, I have provided you with a wealth of suggestions in previous articles. Whether it is a popular new currency, an old currency that has attracted much attention, or a leader in circulation in various fields and a public chain concern, they are all worthy of careful study and exploration.
In fact, the magnitude of Bitcoin's correction this time was relatively limited, but some altcoins, especially popular new altcoins, fell by 20-30%. This is exactly what I emphasized before: new altcoins (generally referring to the currencies that will be launched after the third round of halving in November 2021) have no historical baggage, so they rise rapidly, but the correction is equally violent. In contrast, older altcoins have faced a lot of pressure on the way up but have also found some support on the way down. Both have their own advantages, and investors need to choose based on their own risk tolerance.
So what I want to tell you is that there is no need to panic now. If the market dares to fall, we dare to buy. The closer the market is to a correction, the better time it is for us to make a low position. After all, we've already been through a two-year bear market, and waiting is only a matter of months.
In the early stages of a bull market, the biggest risk is not to blindly chase prices higher, but to dare not buy when the market pulls back, or even be driven by panic to sell bottom chips. Let us maintain a long-term perspective, strengthen our confidence, and embrace future market opportunities.
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