The markets are getting worse and worse as the days are getting worse. We can say that Etherum is experiencing a much more radical decline. But most importantly, how will the Altcoins recover after this hour.
Most (nearly all) altcoins will not recover. The ecosystem cannot sustain them.
The market is in a bear phase, and will be for the rest of 2018 at least.
But you know don't you, that if I was ever to sell a big portion of my bitcoin, the market would take an amazing turn upwards and go to new all-time-highs, and I would never want to buy back in. It's the rule of perfectly bad market timing. And I would be able to brag that I sold at the exact bottom. That is why I will hold regardless of where the price goes.
Yes, no doubt correct. ... and you are not ready to sell yet, but would be more ready at say $2500.
The key thing now (and it will prove impossible for most people) is to accept that whatever you hold will decline in $ price by another 75% (making 90% decline in total), and that will take place in a grinding downwards pattern, including long counter-trend rallies, spread over ~2 years.
Too difficult for most ppl to accept. Best course is to go away and do something else for a while.
I have made money from the last bull run and withdrawn it into my bank to not care about this drop. One thing I am certain, I will buy back when the market is favorable. I have small orders already filled but big ones waiting at the very bottom. Dont be scared. Bitcoin from the very start is like this. We've seen worse. It will recover.