Can The Drop In Bitcoin Price Be Considered As An Opportunity To Purchase?

Can the drop in bitcoin price be considered as an opportunity to purchase? Could this drop be a discount?

Bitcoin (BTC), the leading cryptocurrency, which fell sharply over the weekend, lost about 15 percent, especially on Sunday, due to allegations of power outages and overexcitement that limited mining in China. However, this decline was perceived by the big and small Bitcoin bulls as an opportunity in the short term. Oluwafisayo Williams, a 32-year-old doctor from Sheffield, England, said he saw this drop as a discount. Williams stated that he started investing in cryptocurrencies earlier this year and now 100 percent of his investments are in digital currencies. In addition, Williams stated that he bought 4,800 pounds ($ 6,710) of Bitcoin and that the BTC he currently holds is worth about 27,000 pounds. Regarding the subject, Williams made the following assessment: "It's just a matter of faith, if you are not believing in Bitcoin, you can make the wrong decisions. If I wasn't faithful in Bitcoin, I could sell them all." After a somewhat stagnant period, the value of the leading crypto doubled in October, as large corporate companies invested in Bitcoin. After this development, financial advisors have begun to take a more warm approach to their clients holding their crypto investments. Christian Armbruester, founder of the Blu Family Office, bought crypto for his personal account after the recent collapse and also offered the same for his family, other wealthy investors and clients of the London-based investment firm that manages about $ 700 million. Armbruester said, "I also bought some bitcoin. If you invest in cryptocurrencies, you have to risk volatility." CNBC's Jim Cramer joined those who believed it was time to cash out his Bitcoin. The well-known name of the TV world announced that he discarded some of his Bitcoin shares and paid his mortgage, although he did not specify the amount. Cramer said, "I know people would be mad at me, but I've decided to be a renegade." Bobby Console-Verma, founder of London-based technology firm 1fs Wealth, said that he is now looking to buy again, focusing on cryptos outside of mainstream coins, saying, “Every drop in a market is a potential opportunity, it is the most pleasurable thing for a trader. " Judging by these comments, these drops can be an opportunity or turn into a crash scenario. So what do you think about this issue?