The Next Few Days Will Be Crucial

These past weeks haven’t been friendly for investors as Bitcoin keeps plunging down the charts and there are speculations that it’s going to plunge down even more than what occurred in 2020 and that’s going to be below $30,000. If that happens, the market is going to be bloody for investors because a lot of funds are going to be lost.

If it eventually hits below $30,000, aside billions of dollars gone, it will mark a very dangerous phase in the history of Bitcoin or the bear market and one of the top investors that will lose the most is Microstrategy because they have been investing a lot in Bitcoin. Between December 2021 and January 2022, they purchased about 660 Bitcoin for $26 million, so if Bitcoin hits below $30k then that would be a huge loss for them.

In the market currently, there are JOMO and panics, especially in companies that just bought Bitcoin like Galaxy Digital and other crypto investors who bought in late. Those currently in a JOMO are those who diversify their investments or didn’t buy into it which means they are thinking they made the right choice, and those that bought are probably thinking they made the wrong choice.

No one is certain how far the dip will go, so many are sceptical about buying the dip now, not to fall deep into the bear phase. So those that have Bitcoin now are either watching it fall or selling due to panic. This isn’t the first time this is happening and some have experienced the worst in 2018 when Bitcoin fell below 80% after hitting its ATH at $20k.

At this rate, do you think it will hit $20k or below and where do you think it could bounce back? Because buying now is very dangerous as this is a crucial week and will determine the market.

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