The past three days of the crypto market have been wild of late; this weekend has a lot of volatility. About $170 billion (USD) has been wiped off the cryptocurrency market in the past 24hours. This was very much expected especially after the massive rise, massive drops are meant to follow suit. This is the best time for traders especially, to buy the dip.
Bitcoin started the year with a bang and everything has been haywire this past week. Bitcoin has been very bullish lately, it's not a new thing as we're all familiar with BTCs volatility. Bitcoin went over it's previous all time high this new year, it's volume doubled and it's clearly in the early stages of the bull run. One coin of BTC is even worth more than 20 ounces of gold, gold is gradually losing its value. It's been a good new year for Bitcoins but as of lately, it's been trading slightly downwards.
Bitcoin has depreciated in value by 16% in the past 24hours and the price still keeps fluctuating.
Ethereum is also experiencing this massive dip!! It has depreciated by about 21% in the past 24hours and the price keeps fluctuating. It is now worth about $1,000(USD) and it keeps dropping by the minute.
Tether is currently worth $1(USD) but has depreciated by 0.17% over the past 24hours. Ripple also depreciated by 16% and down to 27cents, Bitcoin Cash is currently Below $470(USD) after depreciating by 22% this past weekend and Litecoin also depreciated by 24%. This past weekend was red and the market is still red at the moment.
This is the period where most people begin to panic and start trying to sell most of their coins in order to save their money while they can. The wise thing to do now is to let it be, it will appreciate over time, in fact, by now that it is cheaper. In the next 7 days or less than the prices will change again on the positive side, that's the height of the volatility of the crypto market. Companies and institutions are pumping money into BTC and crypto, thousands and millions of dollars are being thrown into the Crypto market.
The best thing to do now is to buy it now that they're cheap. These dips are great opportunities for retail traders especially. Buy the dip and get ready to sell it off when the value appreciates.
