[$7.6 billion USD in longs are liquidated in an hour as Bitcoin dips below $55K](https://decentra.news/7-6-billion-usd-in-longs-are-liquidated-in-an-hour-as-bitcoin-dips-below-55k/)
The price is moving fast, and no one knows for sure the cause of this dip. Yesterday, Turkey announced it would ban the use of crypto for payments of goods at the end of the month. The Central Bank of the Republic of Turkey (CBRT) cited a number of reasons for the ban, including a lack of “supervision mechanisms” and “central authority regulation” for crypto assets.
The news articles keep coming, the price of bitcoin is dipping, they say it’s super-volatile, maybe they are saying it’s going to zero. The truth is, no one really knows what is going to happen. If you believe in your investment, and the fundamentals haven’t changed, you shouldn’t make a move based on emotion.
Be aware of your emotions, FOMO and FUD. Especially when there is such volatility.
Be careful in what you believe. Do your own research. Read news from multiple sources.
Just dollar cost average and hold. don’t fall for these traps.