Bitcoin Below $85K

Today Bitcoin has gone down further and it's now Below $85K. It is for the first time in 7 months that the bitcoin has gone down below $85K. In last 5 days, it has gone down by more than 10%. I have not expected it to go so down so much in such a short time. This is mainly because now there is Bitcoin ETF, so more and more people are actually buying. Along with that many institutional buyers are also there. So going down so much is little unexpected.

PC: Pixabay.com

But again since it's crypto, there will always be volatility. If it goes up fast, at the same time it will go down fast. A lot of people might have sold on high, and they are buying now. And just like previous bull and bear cycle, I am holding my bitcoin and not selling it. I have not bought it either. At the same time Hive also has gone down significantly. It is around $0.105. Now Hive is also trading at very low amount, but here since I have some HBD, I am continously buying the Hive whenever I get chance.

Now this is helping me to reach the goal of Hive mainly. But again at the same time I am catching the falling knife. Hive is continously falling down, we have seen it from $1, to now $0.1. Everytime we think this is the lowest and Hive goes down below that. And that's why I am not buying the Hive from all the HBD. Whatever is there in the savings, will be there.

It looks like a very good amount to buy the Hive, but again we are not sure also that how low it can go. So once it starts to go up, then I will think again to buy. Until then I will continue to buy in small quantities.