There are lots of people scared today, I do not even know what they are scared of but for me it is just a market cycle, we go up and then we go down. There is no way for the straight up. There is a "brutality" moment so it is just better to chill out and let things go the way it is especially in the volatile crypto markets.
Bitcoin is a limited asset, it has a limited supply and the supply is dwindling every passing day. But there is an element there where a big miner could sell some of its stack and in turn will crash the market.
So we have to live with that but it is being bought now by institutional investors who wants to get a hedge for it money against the US dollar which is being printed will-nilly by an entity that is in my opinion has a power greater than the US government because the US government itself has no power to change the law to favor the masse's interests.
Looking at the bright side #Bitcoin will continue to rise in its price and this sell-off will just be a temporary setback for our financial gains. I am down a bit for my investment but it is the name of the game especially for cryptos which is not for the faint of heart.
We must know that #Bitcoin itself is being bought by institutional investors and they buy up hundreds of millions of dollars which is why even though there is a drop in value eventually it will get taken up by big players in the crypto space and the cycle continues until we see a better value for the king of cryptos in the long-term and even in the short term perspective.