Don’t panic yet
Bitcoin has reached a new price floor under $4000. But don’t panic! Although it may drop further, it is time to think logically or you can lose a lot of money. Do not sell. The price may be scary, but after these drops in the next few days Bitcoin will reach a new all time high. The hype around Bitcoin is huge and it will keep growing for years to come. Right now is a perfect buying opportunity. You can get an entire Bitcoin for under $4000.
With this current price, Bitcoin is still up almost 2 percent from last month and 300 percent this year. The reason for this sudden drop is that China has been hinting at temporarily closing cryptocurrency trading platforms.
For now, China’s trading platforms are operating normally. It is not the time to panic, it is time to see the opportunity.