Highs & low, every hodlers should hold on tight to their coins

Source
The week so far has been a rather confusing and a bad one for all cryptos enthusiasts, earlier this week btc has gone as high as $58k and reaching 1 Trillion USD in asset by market cap, one would have expected that the $100k landmark is just a step away.l from achieving that feet.

But In a contrasting manner, btc has fallen further more than 10% this week and see its price drops as low as $47K

Source
As recorded by https://companiesmarketcap.com/assets-by-market-cap/ it shows btc market cap dropped from $1 trillion to $889 billion.

does that mean we should press the panic button?

Absolutely No, this could be as a result of price regulations, when btc was on the rise, i made a claim about some factors that could set in, talked about government policies, the price control and inflations,

Like i knew it, during the week the US governments claimed that bitcoin has been supporting fraud, then i thought there would be some measures and strings just to slow down its rise given that mastercard and other financial institutions are supporting btc by ordering his merchant to accept btc as a means of payments. I didn't say government are directly involved in this but the fear of inflation and inadequate price control system of bitcoin could be the factor.

• at the same time people might want to look and buy the idea of Tesla's $1.50billion investment in #bitcoin and also to accept btc as a means of payment, and there are smart investors out there who are just observing the market flow and would then throw in the money once the price is stable, this will definitely make bitcoin rise again, so there is no need to panic, #hodl on tight to your coins, you don't need to rush and sell now.

Posted Using LeoFinance ^Beta