And we are already in the first 3 months where the bitcoin price has not been able to penetrate higher. But yesterday, we saw the price increase to $24k and almost touched $25k. And now, bitcoin is back down to $22k and still trying to hold on not to fall any further. We can hope that this month bitcoin will still be stable at that figure but we can also hope that there will be a price reversal that can make bitcoin return to $23k-$24k and even pass $25k.
Most traders tend to panic about the outstanding FUD issues including the Binance and Mt. Gox. I'm not really worried about it, that's the honest thing I want to say. But it cannot be changed, the market is always influenced by supply and demand and FUD often causes corrections over time. As a result, March took my portfolio and that of most others down, but of course it's not the end.
They really need to reduce their panic so they can adapt to the situation that is about to occur. If not, how can they take advantage of the opportunity to buy at a low price if the price drops deeper? I'm sure you're not the only ones who have experienced a decline in their portfolios. However many people, including myself, have also experienced it, but I'm still fine and can still handle panic or be calm in dealing with it.
If that happens, maybe in the following months, there will be even more rapid price movement and maybe there will also be a pump and dump going on. And it's true that we must stay alert to everything that could happen so we can use the moment to our advantage.
Consider DCA if you want to invest during these market conditions, I think it should be a good choice instead of a lump sum.
But you can also watch how it moves, but try to ignore the correction and hold with it through March. I believe the market will do better in the next month, there is some optimism about that.
I've been doing DCA since the price was $16k yesterday and still doing it. For this March, I'm still optimistic even though I realize that the market hasn't changed much but we hope to see it increase in April, where Q1 has ended and been replaced by Q2. And the market also still has many opportunities to make a reversal and as long as the reversal has not occurred, we must use it to our advantage. That can provide a big advantage for us later.
