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Bitcoin [BTC] falls below $8000 today, time to HODL based on expert opinion or sell based on numbers?

Aman Swami



Bitcoin[BTC] falls below $8000 today, time to HODL based on expert opinion or sell based on numbers?
Source: Pxhere

Around the time when half the world was in the dark and other half saw a bright light, Bitcoin experienced something that no crypto-enthusiast who promotes Hodl and is optimistic expected to happen.

Bitcoin at around 12:50 am UTC today, witnessed a fall below the $8000 mark. For many days now, Bitcoin has been declining but had not seen a price below $8000. For half an hour the price remained below the $8000 mark, falling to the lowest of $7974.

Bitcoin, a couple of weeks ago was flying high and everyone expected it to break through the $10,000 mark but to people’s surprise, it started falling after crossing over $9900. Amongst this decline, many cryptoanalysts, investors, and followers were optimistic about the coin and did not fail to predict that it will surf at very high rates soon.

As the price declines by the hour, the market is showcasing more and more optimism with a lot of crypto experts talking about it achieving great numbers in a couple of months or years. The market, though optimistic in nature, has filled the investors with a sense of fear.

Nick Cote, a Bitcoin investor on social media said,

“To the people hating on “OGs”. Hey, you’re gonna turn into one too in 2020 aka the next big bull cycle. $BTC #Bitcoin”

Bitcoin has lost more than $12 billion in market cap in the last 7 days. The market cap has suffered a lot in this period. It fell from $150 billion and is currently just above $138 billion. In the last 3 days, the price of Bitcoin has seen an overall decline keeping the price below $8500 mark.

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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.