The following points need to be paid attention to in this big drop:

1. Black swan events may have occurred, but they are not targeted at Bitcoin, but black swan events in the field of altcoins.

2. Bitcoin is supported by institutions such as BlackRock, MicroStrategy Ark, and Fidelity, and it is unlikely to see a sharp retracement of more than 50% again. $60,000 is a strong support level, and $53,000 is an extreme support level. Institutions are actively buying even at $70,000, so they may continue to increase their holdings at $60,000 or even lower.

3. If the price continues to fall to $53,000, or even to $48,000, this may be to clear long contracts. If you still hold funds, this position may be an entry point worth considering. Don't wait for Bitcoin to fall to the $38,500 level, it will be very difficult.

4. If you still have funds to invest, you can consider laying out altcoins that have performed strongly before. Choose those that have fallen to the limit, have good fundamentals, and are supported by capital. Because during a downtrend, the stronger the currency, the more locked-in shares it has. Once market sentiment improves, these currencies may rebound quickly.