Bitcoin investors are shrugging off the recent drop in value that saw a loss of over 10.9% on Sunday. A number of speculators believe the price is still very bullish but expect some more big dips along the way. Meanwhile, optimism has been cushioned as onchain statistics show that exchange withdrawals also surpassed deposits on Sunday.

This past Sunday, bitcoin (BTC) took a price hit and the entire crypto market followed it’s downward slump from a high of $12,000 to below $10,700 losing 10.9% in value. The sharp drop was quick and even though a decent amount of value was lost, investors believe that BTC will recoup the losses and continue to gain.

Bitcoin's 10% Drop Shrugged Off - Traders Expect More Big Dips On the Way Up
On Sunday, August 2, 2020, BTC dropped 10.9% in value.

During the bull run that started at the end of 2016 and all the way until December 17, 2017, there were at least six large drops in value on the way up. The third most copied trader on Etoro, @Anders, told his 2,800 Twitter followers that the recent dip was all part of the game.

“This is nothing,” Anders said after the 10.9% drop….

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Source: https://news.bitcoin.com/bitcoins-10-drop-shrugged-off-traders-expect-more-big-dips-on-the-way-up/