As The Price of Bitcoin Race Down, What Should You Do?
The price of bitcoin and cryptocurrencies are going down. Bitcoin nearly reached $70k last month but today the price is less than $52,000.
What should you do now?
Panic and sell all the bitcoin in your wallet?
If you're a long time observer of bitcoin and cryptocurrency industry you should know that selling your bitcoin right now is the unwisest thing to do.
Infact, now is the time to buy as many bitcoin as you can afford to buy.
This is called "buying the dip".
As you probably know, each time bitcoin price goes down expect the rise to surpass and hit a new price point.
If you sell now, out of panic, you will most likely regret few weeks from now for doing so.
Except you have urgent money need and selling your bitcoin is the only option you have to raise the money.
If you have bitcoin in your wallet do not make the mistake of selling it at this point, otherwise you will loose.
Now is the time to buy. Buy as many as you can afford.
El Salvador, the Central American country that recently adopted bitcoin as it's national currency, few days ago bought about $10million worth of bitcoin and planning to buy more.
On Wednesday, Facebook relaxed restrictions it placed on cryptocurrency adverts, since 2018.
Opening there doors to crypto traders to reach there over 2billion members, through Facebook ads.
You need to understand that bitcoin is here to stay. Haven passed through it most challenging times in 2013 and 2017 yet survived it all.
Now, it has global mass adoption with financial institutions providing services for it, like Mastercard, Visa card and Paypal etc.
With the coming of Metaverse, NFTs ...etc bitcoin is stronger than ever before.
I don't need to say more than this.
Do not sell instead buy more.
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