For all the crypto investors out there, you might have seen the crypto dip. Now here's what happened and what you need to understand about the dip.
First one is that the US Federal Reserve meeting that happened which mentioned that the Central Bank is gonna hike the interest rates as soon as March. This obviously negatively impacted the market sentiments.
Second is that Bitcoin Mining stopped in Kazakhstan, because of internet shut down in the country and a lot of violent protests. Kazakhstan is by the way the second largest bitcoin mining hub in the world.
Third was basically the technical indicator factor. Bitcoin broke a major support level causing many traders to close their positions. This in turn caused the price to go down even further.
If you're someone who believes in buying the dip strategy like me then you should definitely take advantage of this dip. But if you wanna sit tight on you current holdings and just observe the market then that's absolutely fine.
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