Bitcoin Correction Spells Opportunity
This recent correction in Bitcoin in my view presents opportunity. I bought a bit at $48K and would be buying aggressively under $40K. I have held all of my positions and will be adding. On average Bitcoin's maximum annual drawdown is around -65%. We would need fall to $36K and it would still be considered perfectly average. So far these are only measured Fibonacci retracements.
As always this is just my non-professional opinion and should not be considered financial advice. All trading involves risk of loss and investment decisions should be discussed with a qualified broker.
Good job snagging the dip. It's crazy to think that roughly one year ago we were in the 6k region. Anything can happen, but the large increase in new wallets and hodlers can't be ignored, and there isn't enough BTC to go around.. :)
If it goes to 36k, everyone will be buying, and many billionaires will be in the red. I personally think this may just be one last accumulating event before we see the literal moon. But of course, I could be wrong :) :) Good post, BVALE!