Beyond FOMO the crypto market's price drop is a new buying opportunity

The price drop experienced by the cryptocurrency market in the last week exceeded 25%, with Bitcoin's retreat to the $21,000 area triggering a collective panic among cryptocurrency investors and traders.

It is necessary to place ourselves in the current context that the cryptocurrency market is experiencing, for this we must remember that the crypto market at the end of 2021 began a systemic price decline, behavior that has extended during the first 6 months of the year 2022, so that, although each setback has generated fear, it is also true that the price drop has represented excellent buying opportunities.

It is worth mentioning that the drop in prices experienced by cryptocurrencies should be seen as something normal, external elements that have influenced these price drops should also be considered, such as state regulations against cryptocurrencies, the generalized fall of traditional markets, the Federal Reserve's interest rate hikes, and the high inflation that has been generated in the world as a result of the economic and financial sanctions against Russia.

Having already contextualized the reasons that in my opinion have somehow generated the fall in prices of Bitcoin and the rest of the cryptocurrencies, to this we must add that in the last two months there have been extraordinary conditions that have negatively impacted the reputation of the cryptocurrency market, one of them was the resounding collapse of prices of Terra LUNA, and more recently the collapse of prices of the Celsius coin, events that added panic within the market.

Now, even though Bitcoin and other cryptocurrencies continue to lose their value and investors are withdrawing, from my perspective this price drop is an excellent buying opportunity, mainly to accumulate cryptocurrencies, remember that prices fluctuate, and that these setbacks should be seen as normal, therefore the purchases we make today will be the positions we will have to sell in the next bull run.

CointeleGraph 'Too early' to say Bitcoin price has reclaimed key bear market support — Analysis. Link