This BTC dip will take more time to recover than we think, whales are using this to spread bad news and they will use this situation as always happen in situations like this. There are too much bad news for crypto serving to us this days. Credit card bans spam confuse people but they don't know they still can send wire transfer and use Debit card to buy coins..., exchange ban from some countries, regulating crypto world etc etc. All this are some of reasons why this happening today with BTC. We just need to be patient and over time situation will be better and different. Some coins will die meanwhile, that happen with thousands coins till now, some will grove stronger etc etc...
Well, no one expects recovery to always be pretty fast, but I will not be surprised if it does not. We may have some bad news now, but just wait a little bit as the news start changing now that the bulls are beginning to step in gradually, then we will see a bull rally which is normally usual.
The beginning of it is the one that was had with the US senate, and there is so much more to come. At the end, the patient dogs in this market always end up eating the fattest bone.
With respect to cryptocurrencies, we still have a long way to go and a huge room for more development. One thing I always tell newbies is that, if you are a long position older, never bother yourself about the value you see presently now in the market and if you a short term holder and you did not sell at the top, do not bother giving the sharks and whales the pleasure of taking your money away from you. I love dips like this, because the recovery is one thing I always look forward to after it happens.
Thank you so much for sharing your thoughts and advice to newbies. It is really helpful and reinforces also my stand to hold the line and if got some spare money, buy bitcoins as much as I could.
Although I no longer buy bitcoin now and the last one was 2 years ago but I am considering of buying few satoshis at anytime when I will get my pay from client work.
I am also planning to buy more altcoins with 50% of my remaining bitcoin holding because the reds are really tempting to buy and I guess that is the smart thing to do right now.