The cryptocurrency market is ever-changing, and the recent BTC price plunge caught investors off guard.
After analysis, the reason is that the U.S. Department of Justice was approved to dispose of the previously seized $6.5 billion in Bitcoin. The market fell on the U.S. trading day, and the decline was astonishing. Obviously, Wall Street got the news in advance and had quietly shipped.
Previously, everyone speculated that it was a normal market adjustment, but seeing such a large decline, it was known that it was a black swan event. Under normal circumstances, the market will rebound after a sudden straight drop, but this time it was a panic sell-off.
For retail investors, it is still the most important to do a good job of risk control. What can be done is to control the position and not let emotions control the operation. If you do a high-multiple contract, remember to set a stop loss, and the spot will be more stable and don't take too much risk. Although the market is in a mess now, there is no need to panic too much. After all, it is estimated that it will take more than a year from the Ministry of Justice to actually sell these bitcoins. Don't scare yourself.
Besides, if Trump really comes to power, he may introduce new policies to treat these bitcoins as strategic reserves and no longer sell them. After all, he has said similar things before. When the panic in the market is over, the price of the currency may rebound. So, stay calm, keep your mind steady, there is still a chance!
