The crypto market is not doing very great right now. There is a huge downtrend on the altcoins because of things happening in South Korea. Many Korean exchanges are having a big sell pressure on the altcoins. We know for a fact that something similar to this happened in every other country and people will get back to crypto no matter what. I don't think things like this will shatter cryptocurrencies completely. Having regulations in crypto is a very good thing for the country. It helps in having good control and at the same time, the company is also advancing in the right direction.
50k BTC is an opportunity
I see this as an opportunity. I don't think BTC would go below that as it should have already set a base price. We can see that despite all these confusions happening in the crypto market, the price of Bitcoin is pretty much stable. Even if the value goes down, it doesn't happen big. This means that people have a great understanding of the capabilities of Bitcoin. And, this is the strongest reason why I would like to buy BTC when the price is low.
I don't have any BTC holding with me. I once used to have close to 1 BTC as a whole. Those were during the early days of Hive and I exchanged all the BTC and bought Hive. The hope was that Hive will increase and provide a great return to us. But the fact is that Hive did hit its all-time high value but after that, there was no big spike and the value keeps falling too.
Today the opinion is very strong on Bitcoin and people are looking for ways to invest in Bitcoin. Altcoins get affected when there is a market crash but when it comes to BTC, there is no such fear and people are investing more thinking that in the future returns will be great.
My buying strategy
I'm if the BTC market goes down, there will be a huge demand as the entire market would have gone down. But even in a case where BTC alone goes down, I would like to make use of that opportunity to grab some BTC fragments and keep them. The most important thing is to not lose money with transfers.
In the coming months, I would like to keep holding some stablecoins. The main reason is that we will not know when it will be the right opportunity to invest and reap some profits. Just investing alone is also not going to help. We have to find the right time and sell for a high price and buy for a low price. I think I have enough Hive with me right now and that's going to be sufficient too. My focus should now be on other altcoins.
