Bitcoin’s naysayers rejoiced with a 10% drop from the all-time high as the price plummeted back down to $97,000. You can still spend more than $100,000 on just one Bitcoin. The mind-boggling expansion of this asset over the previous fifteen, almost sixteen, years is demonstrated by the fact that the “dip” has rebounded to just below that critical point.
So far this year, Bitcoin’s value has increased by about 128%. Three years of price gains should be expected to be followed by a substantial correction, according to historical trends. So, I think Bitcoin isn’t done pumping yet; it’s simply taking a break before the next wave.
Bitcoin Volatility Holding
At times, new bitcoin holders may experience anxiety over holding bought bitcoin. This asset is great when it’s pumping, but it makes people question their life when it’s dumping. If you are new to the market and have bought at the local peak of $108,000, you will be fine, as someone who has been working with Bitcoin for nearly eight years can guarantee you.
Right now, you should focus on increasing your Bitcoin holdings because this is a good drop. It is wiser to familiarize yourself with the basics of Bitcoin and this new asset class than to get caught up in the daily price changes.
Bitcoin is a wild animal, and its downturns will be just as devastating as its upswings. This volatility is useful even when the market is down for several reasons; for instance, it allows new bitcoin investors to potentially profit from stacking bitcoin at lower prices than when they initially invested.
Have you acquired Bitcoin for $108K
There is no need to be alarmed; the Bitcoin worth $108,000 is secure. The wisest course of action is to remain informed, to think long-term, and to resist the temptation to sell out of panic. Bitcoin has strong foundations, such as a history of recovering from corrections, scarcity, institutional adoption, and potential for future expansion.
Now is the moment to reevaluate your investment goals. Is Bitcoin’s future a short-term investment for you, or are you going to remain in it for the long run? Having a strategy and sticking to it, even when the market is uncertain, is essential for success in the unpredictable world of cryptocurrencies.
Summary
It could appear like a highly risky position to buy Bitcoin at $108,000. Even though Bitcoin’s future is bright, the cryptocurrency business is prone to market downturns. You can probably reap the rewards in the future if you remain cool amid the short-term turbulence and maintain a long-term perspective. Bitcoin has excellent foundational concepts. Because scarcity drives demand, its growing tendency will almost surely continue. New technologies are being developed, and more and more institutions are embracing them.
