If you caught $60K-$64K BTC yesterday like I did the best thing to do is have a plan - you have this weekend to do it
I sold what I bought yesterday at ~$70K today, still holding my underwater BTC / would likely sell if we got close to $80K as I've been able to reduce my average a lot since yesterday
Thinking of buying the dip if we get a mini nuke this weekend as it would trigger buys from ETFs on Monday due to how well BTC recovered from the flash crash today
No matter what happened, this dump was too damaging to too many people and we have to accept the possibility of crypto taking its time before jumping back to the spotlight
Lots to do, lots to plan, have a great weekend

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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