Did You Buy The Dip?

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It's pretty crazy when you start looking at cryptos market cap. Now 966 billion dollars. YES BILLION!!! and was once at a trillion dollars.

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The thing is we keep comparing Bitcoin to USD which to me is a key reason it will never overtake USD. Simply because we use it to say that's how much "Value" it has.

Well with all of the crazy that happened over the last few days Bitcoin nose dived all the way down to $29,460 from $37,000 in just the matter of 48 hours. That's a huge swing. But as of today we are now recovering from that.

I don't feel we are on our way back to 40k though or better. Instead we are in for a wild ride of drastic ups and downs like the repeat of 2017 - 2018

One thing I hope that comes out of this is more people ended up buying in the dip instead of selling out on it. However that most likely isn't the case. So many people trade on emotions and when you see 30% of your invest wiped out in the matter of 24-48 hours your gut tells you to pull because this is a sinking ship!

However if you've been in crypto long enough you'll notice the trends and realize crypto is extremely volatile.

Why I hope more people bought on the dip instead of sold out it to try and curb the massive holdings of bitcoin that only a few people have. It is these people that can still trigger massive sell offs and buys. The way to offset this is going to be getting more people buying and keeping their bitcoin no matter how big or small.

The other issue is bitcoin is still complicated. While some platforms have helped to make onboarding people into being able to buy bitcoin such as Coinbase and Paypal it is still complicated for the every day user to use and understand.

Mass adoption wont happen until the UI and user interaction is dumbed down to the point of it being as easy to whip out a credit card and buy things with it including buying crypto itself.

Do you think we hit a trillion again and stay there? I love the fuel that altcoins have been getting lately!

Posted Using LeoFinance Beta



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