Bitcoin, had an opening price on Sunday 06/11/2022 of 21,340 dolaras and would be closing with a price of $20,915 per coin, then followed 3 more days of fall behaving like this:
Monday 07/11/2022 = Closing price - 20.559 dollars per coin
Tuesday 08/11/2022 = Closing price - 18.523 dollars per coin
Wednesday 09/11/2022 = Closing price - 15,914 dollars per coin.
As you can see a pretty big and alarming drop for many, the fact is that today 10/11/2022 at the time of this publication and the price is slowly looking to go up again, as it is around 17,320 dollars per coin.
What has many alarmed is the fact that we haven't seen these prices Bitcoin has fallen to since about two years ago when it was at $17,807.
But what's going on?
Binance Had confirmed the purchase of its rival TFX because of the "liquidity crisis", all this after the controversy between Binance and FTT, so the CEO of Binance decided to liquidate all the FTX tokens ie (FTT) that he had in his power, all because of power issues and problems such as the alleged attempt to lobby against finance currently practiced in Binance, this led to more than 520 million in FTT were sold, which was a hard blow to the Exchange.
After this, Binance on its official Twitter account announced that it would not buy the FTX package due to certain irregularities that are considered out of control.
But Hive is also down, now what do I do?
Bitcoin is like the foundation of a building, to make it clearer I'll explain it like this:
Bitcoin = Foundations of a building
Hive and others = Apartments that make up the building.
If there is a small tremor and the foundations of the building shake, so will the apartments that make it up, for this reason when bitcoin goes down the whole market moves to the same side.
Here is another example:
after a tremor occurs people for safety and fear seek to descend from the highest floors of the building, just as when Bitcoin trembles the other cryptos also fall, the difference is that many sell in time to then buy cheaper and others sell at a loss and are out of the game, it's as simple as that.
Recommendations
For now the risk indicators mark symptoms of massive selling, caused by the lack of Information regarding the subject in general, it is not a secret to anyone that currently there are millions of people who are just entering the cryptocurrency market and make small investments by seeing the testimonials of others who have managed to make a profit, these people are the first to sell when they see any slightest movement below the price at which they bought, That is serious, in the coming days we will see a horizontality in prices to seek to establish a new point where you can enter, the recommendation is not to sell or get carried away by fear, remember that an asset is not the same as a physical capital that when you spend it loses its value, it also depends on what your goal is to acquire any cryptocurrency.
For those of us who have some time knowing how the business moves, we know that these falls are not forever and that the best option is to buy to increase our asset and to loiter to get good profits from the rises, just as it is the roller coaster, when we are at the top we feel good but when we reach the low levels fear takes over many and some even go in vomit, so think about it, let's be calm and do not vomit our cryptos selling in loss, as the red grasshopper said "Do not let the cunico".
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