Depends on who you ask. As of today (May 12, 2022) it looks like Bitcoin might go that low. It looks like around $28K right now. I am pretty shocked that it has went this low. I did not see this coming. Either this is the last we have seen of Bitcoin and Cryptocurrency, or central banks are pulling their last-ditch efforts to get people to stay away from the future.
Although I don’t think it will go down to $20K or below, I never hold my breath on what the market will do. For me, I’ll never stop buying Bitcoin no matter how much it’s worth. I feel like we haven’t seen anything yet.
As more countries decide to adopt Bitcoin as a legal tender, more people will use it as a medium of exchange. Sooner or later, you will be able to travel the world and Bitcoin might be the chosen currency of the local people.
Most people when they see massive drops like this, they get scared and sell out. This is an incredibly sad situation to see, but I never feel sorry for people like this. This is why only some people get rich with Crypto; only very few have the nerves and vision to buy when everyone else is too afraid to or sell when everyone else wants to buy.
The price will never matter to me. When the market drops, I get ravenous to buy (hell I even work extra hours and find extra side gigs when it happens!) and when the market is up, I treat myself a little bit.
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