Amid the current market fall, specialists recommend maintaining a personal trading strategy to avoid the negative effect of emotions. Enthusiasts express their long-term bullish position, advising investors to follow the fear in the market before making decisions.
The sharp drop in the Bitcoin (BTC) price below USD 25,500, its low in 18 months, has fueled fear in the market. Various specialists have expressed their position on Twitter amid the possibility of investors getting rid of their holdings.
Bitcoiner David Battaglia recently advised BTC investors never to make decisions in a panic, saying they must capitalize on the fear of others. Likewise, trader adrig_iv estimated that remaining firm and objective in hard times would make them good investors.
In that regard, investors need to anticipate sharp price drops for their risk plan. Since those situations will not take them by surprise, they can act according to their original trading strategy. That will allow them to avoid the negative effect of emotions or thoughtless decisions.
The Price of Bitcoin Close to USD 20,000 Is also an Opportunity
Investors with a long-term bullish conviction made more comments on social media as fear increased in the market. For example, the specialist Jess_btc reported that those who think in the short term see it as a tragedy. On the contrary, she stated that those who see Bitcoin as a long-term store of value view it as an opportunity.
She anticipates the current bearish market is an excellent buying opportunity at low prices for long-term holders. In other words, those who store the cryptocurrency as a store of value can speculate that its price will increase over time. ManiThawani is among those who think that this is the best time for investing in BTC.
In contrast, those traders who want to make quick profits temporarily move away from the market until its bullish trend returns. The Mexican trader Oscar Ortega follows this strategy, stating that he will not buy Bitcoin during the crypto winter (bearish trend).
Enthusiasts Remain Bullish amid the Bitcoin Crash
Jess_btc pointed out that those drops are good in the long term as they serve to clean the market. Those who entered to become rich quickly will leave, while those who entered for technological advancement will stay. Those who know the world needs Bitcoin will continue to invest until the end.
Mauricio Di Bartolomeo, the co-founder of Ledn, thinks that the adoption of Bitcoin is on the rise regardless of the price. He argues that the cryptocurrency is solving problems in different countries thanks to its fundamentals and economic restrictions.
He predicts that the bearish market will end when the United States stops raising interest rates, a factor leading to its current fall. He thus maintains his long-term bullish vision, saying that adoption is on the rise despite the price drop.
Concerning the growing adoption he expects for BTC, David Battaglia stated that the macro environment has never been better for Bitcoin. He said that a study by Deloitte and PayPal validates that optimistic outlook amid the bearish market. Those companies estimate that 75% of surveyed US merchants will accept cryptocurrencies as a payment method in the coming months.
It is best to follow a pre-established risk plan amid a sea of short-term bearish thoughts and some long-term bullish ones. Investors will thus avoid selling for fear of a worse low or buying for fear of missing out (FOMO).
By Alexander Salazar
