The entire market corrected today, this was coming and everyone knew it, BTC can't moon to $20k in a month, and then not correct at all.
I said it many times in previous posts here that BTC has to correct in order to go even higher, and it happened, it also took all the altcoins down with it, since we know that all the alts are influenced directly by BTC through their pairing.
What is this?
This is just a very welcome, healthy and normal correction that the market very much needed. I would've actually been much worried if this didn't happen and everything kept going up without correcting.
Will everything recover?
Yes! This is not the first time we're seeing this type of market, we've been through it many times already in the past few months so we're used to it. Not only recover, but everything will now be even stronger than before, since everything is strongly consolidated now, we will see an extremely bullish season for both BTC and for alts and a market full of green, in the near future.
What to do?
If you felt/feel like panic selling, it's completely understandable, it's human nature. But panic does not go hand in hand with trading/investing, that's why you need to keep calm, relax, let the market follow its natural course, have patience and prepare to buy, because this is what we like to call the "Black Friday of Crypto" - everything is at discount.
Remember:
"The intelligent investor is a realist who sells to optimists and buys from pessimists" - Benjamin Graham, The Intelligent Investor (great book, I highly recommend reading it).
All the best to all the strong hands, its only you people who belong here.
Nice to see good content that generates good discussion in comments
One thing to learn is to keep liquidity on the exchange to take advantage of dips like this. I feel your optimism and it's infectious. Thanks @priyathamreddy
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