₦airaland Forum

Causes of the dip

After initially deviating above the $21,000 horizontal resistance area, the largest digital currency fell as much as 5% to $19,870. The year's low is currently $17,620. As more downside looms, other alternative cryptos are suffering the same fate.

It appears that the market is still digesting the impact of tighter monetary policy on all risk assets, and crypto is suffering as a result of correlations. I doubt the regulatory bill is still a cause for concern because the market has already accepted it, so it's a battle between bulls and bears right now.

Will Bitcoin ever recover?

There are numerous reasons why you should remain calm and believe in Bitcoin right now. Because those looking for short-term gains are frequently disappointed, hodling and long-term has always proven to be an excellent strategy during panic times like this.

The same reason why Microstrategy's M. Saylor and other billionaires continue to buy Bitcoin [https://quidax.com/c/buy-bitcoin-nigeria/] despite the rumors and speculation, is for long-term.

Nice topic but my question is why was it rising before? Who controls this shit and who decides our fate.