Would you buy into the annual pullback?
It appears that Cryptos like to stage a collapse each January...it happened the last 3 years and this is number 4.
Personally, I feel this is Wall Street still getting adjusted to the crypto world. There was so much money poured in quickly that they are not conditioned to shrug off 20% declines. Do not forget, the stock world, that is a crash. Here, it is a lunch break.
Over the next 6 months I think we will see things start to settle down as people get accustomed to his industry. There are so many new players that they get fearful at what they perceive to be a big move down which causes panic selling.
Interesting. I didn't know about the annual pullback. I think the other points make sense, but I do think it is strange how uniformly the drops seem to sync throughout the coins.
I would definitely buy into an annual pullback if I planned on it. I don't have the USD to put in right now and I bought in last week on the exchanges. I can only hodl.