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Seeking Alpha 2021-05-20 09:08:07

Bitcoin crash: Opportunity to buy or stay on the sidelines?

The crypto community is once again divided on how to digest the latest Bitcoin (BTC-USD) crash, with the digital currency falling as much as 30% at one point on Wednesday to as low as $29,000. Some are attributing the crash to China's crackdown on crypto transactions, Tesla's recent decision to stop vehicle purchases with the crypto and JPMorgan citing moves by institutional investors that have swapped their Bitcoin positions for gold. Others in the FUD crowd (fear, uncertainty and doubt) say the finger pointing is not of much use, as the crypto scene is generally a volatile environment, and traders must be prepared to buckle up once there is a shift in sentiment.The bulls: "For investors that are thinking long term, this is actually a great opportunity to buy at prices you may not see for a while," said Delano Saporu of New Street Advisors. "Seeing these big drops is

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