Recently, bitcoin(BTC) was flying only higher, until the Fed(Federal Reserve) threw some cold water on the bitcoin's hot rally by announcing regulations before Congress. Although this does not mean that Libra and other tokens will not be approved with time, the cryptocurrency market seems to panic by the downfall of prices for days.

Bitcoin dropped about 20% after Fed Chair, Jerome Powell, remarked about Libra negatively. However, Let's don't forget that bitcoin bull market rally began far before Facebook's Libra news was released. Bitcoins rally was independent of any of Facebook or other company's tokens. It is likely to continue to go forward.

"We are still very early in the digitization and tokenization process of the financial system, and bitcoin is going to play a central role as the progress of going forward" says the cryptocurrency analyst, Victor Dergunov.

John McAfree, a founder of software McAfree, scolded investors for freaking out over the weekly fluctuations and reminded them to recall bitcoin price's parabolic move over the past few months. He said "I'm still positive about my $1 million bitcoin price by the end of 2020"

So, people, please. Let's don't panic about the decline of bitcoin price.

Perhaps, this period of sinking time is a better time to invest in bitcoins.

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