Bitcoin (BTC) proponents are calling the drubbing the apex cryptocurrency received over the last two days as “necessary” and “healthy.”

No Pain, No Gain: The CEO of Binance, Changpeng Zhao, seemed to take inspiration from the old adage — No Pain, No Gain.

Retrace Opportunities: Barry Silbert, the CEO of Grayscale Bitcoin Trust (OTC:GBTC) parent the Digital Currency Group revised his retrace level to $30,000 and called it a “buying opportunity of a lifetime” in a tweet. 

HODL On To Your Coins: Celsius CEO Alex Mashinsky says there are more corrections to come and a potential for a plunge to $16,000 levels before the end of the first quarter exists.

“This process will flush the weak hands and transfer the baton with all their BTC from the short-term speculators to the long-term institutions and HODLers,” Mashinsky told Cointelegraph.

Hodlers are persons who refrain from selling their coins in Bitcoin parlance.

Price Action: Bitcoin traded 1.36% lower at $35,143.37. GBTC closed 15.8% lower at $37.40 on Monday.

See Also: Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means