Bitcoin Market Enters ‘Fear’ Zone, Is It Time to Buy Dips?

Bitcoin entered a correction after breaking through the previous highs at the beginning of November. BTC is currently trading at around $58,000 Nearly 16% below its all-time high of $69,000 on November 10, according to Clark Moody Bitcoin Control Panel.

The current bitcoin price drop is a below average drop for BTC this year.  Source: UTXO Administration.

The current bitcoin price drop is a below average drop for BTC this year. Source: UTXO . management.

When the price drops, newcomers get nervous while long-timers enjoy buying and stockpiling cheap heaters. The difficulty for newcomers lies in the short-term vision of becoming a millionaire, which some usually tout. At the same time, Bitcoiners can continue to buy more BTC as the price drifts lower. This dynamic is part of human nature, as one tends to sail according to the wind. However, in general, apply emotion in your investments It can hurt your strategyThe best strategy is to “play cool”.

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