Bitcoin's bounce off $7,500, although significant, was short lived. The price has now dropped below 7.5k, and with this resistance level broken, BTC could be going much lower. The next potential support level is a previous peak of $5,000.
If you're a holder of Bitcoin, particularly if you bought in at a higher level, then this is the time to have a strong hand. Remember that you only make a loss if you sell. Obviously this is a lot easier to do if you have only invested what you can afford to lose. Having not panic bought, you find yourself in a situation where you don't need to panic sell. Either way, this could be a good time to check out or revisit the article, How to Handle Bitcoin Price Volatility.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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