There were sharp declines in the crypto markets today and many cryptocurrencies, especially Bitcoin, lost value. Bitcoin fell to as low as $58,930 today but has since recovered to return above $59,000.
Bitcoin is currently trading at $59,581 and appears to be down 2.3% in the last 24 hours. However, the selling pressure seems to have eased now and if the selling pressure does not increase again, it may regain $60K in the coming sessions. Such drops can happen all the time in crypto markets, but such drops are demoralizing, but on the other hand, drops can be a good opportunity to invest. I still believe that Bitcoin can hit a new ATH this year so I am not worried about the dips and remain calm.
This is not investment advice, please do your own research before investing.
