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RE: Why Bitcoin Sold Off (Not the Headlines you Read on Bloomberg) 📉
If we follow a similar correction to the last big one in 2014, I'm calling $2,745 as the potential low - about an 85% correction from the Dec. 2017 high. That's still not a big deal. It will go higher again - we'll just have to wait a little bit longer.
Too many noobs thought investing in cryptos was going to get them rich, quick. 2018 is the year of reality: it bites. All this FUD is normal and the pain will only increase in the short-to-mid-term. Only those willing to suffer through the storms will realize their dreams in the end.
There is no part of the BUY LOW, SELL HIGH method which includes bailing out and selling when it's low. But, lots of people still do it.
I don't know if Bitcoin will go that low because then mining even becomes unprofitable. I don't think it will be allowed to.