What happened?

We have witnessed the biggest dump in Bitcoin history since 2013, even marking almost -50% in a single day and scaring the whole world of investors. The price has dropped for a few moments even under $ 4k with a panic sell situation never seen to date.

Bitcoin drags around the rest of the sector in particular the main altcoins highlighting a blood bath week.

PlusTaken scam, Coronavirus, Bitmex, strong sales and low demand, all these events led to this market crisis, but have we really reached the bottom? It is not to be excluded but the next few days will be crucial for cryptocurrencies and to understand if the sell-off has hit bottom. The sentiment could indeed change, with part of the investors tempted by the purchase of Bitcoins, given the low prices.

Time to invest?

What everyone is asking is if this is a good time to invest in the long term ... in my opinion yes, all the moments of marked crisis and panic are good, the rule is always the same "buy the dip, sell the high". Just a month ago it would have been fancy to think about buying 1 bitcoin for only 5k dollars!

I will only wait a few more days to see if the waters calm down, and if it get to 3-4k again it will be the best buy opportunity.

I think that when Wall Street starts running again, the desire for gambling will return in the mind of whales and the price of Bitcoin and all altcoins will go up again too. I can't tell you if in 6 months, a year or two, but I don't think the cryptocurrency system is currently dead, we are only in an unfavorable cycle.

Warning, this is just my thought, I am not giving investment advice. Stay safe!