It looks to me like BTC has dropped from ~7100 to ~6100 just in the last three hours. That's some serious dynamics, eh? Can we see 3K? Now that would be the time to buy.
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Oh yes, absolutely. I do most certainly agree with that. In fact, I still think we will see 100K.
The question is how to recognise the bottom when it comes, and not get caught by the dead cat bounce.
If it's going to $100k, it really doesn't matter if you buy at $6k or $4k. What matters is if you buy at all. If you sit on the sidelines waiting for a lower price that never comes and then you miss the move back up, that's what matters.
I can follow your logic there, and it is a good point. But it matters because I have a fixed and very limited amount of capital to invest. If I buy at 4K versus 6K, I can buy half again as much. See what I mean?
In any case, we are now at 5600 and still falling, down almost 30% in the last 24 hours.