Like it or not, this is a good thing.

As much as I hate to say it, crypto needs a purge from all the shitcoins and clueless people that are in it for the quick-buck or get-rich-quick scheme. Those that have been badly burned have been warned countless times by a phrase that has become to motto of many crypto-enthusiasts: don't put in more than you're willing to lose. This is one fact that has always remained true.

And lets be honest, what crypto is today, isn't what satoshi had envisioned. Bitcoin was supposed to facilitate the sending of money worldwide and everyone was supposed to be able to participate. Instead it has become a giant ogre of speculation where the big bucks hold the bag over the little guy, ready to take a shit on them. The network is ruled by giant asic farms and there is no decentralization.

I'll give you my personal thought on all this: crypto is here to stay. There's no way around it. I don't really understand why the market took a plunge and there are many theories around it. I'll just hodl what I have an patiently wait for things to settle down and pick up again as they always do.

Let's not forget that the global trend of Bitcoin has always been upwards. Just because we are seeing a correction now doesn't invalidate that fact. Even at 1000$ this remains true.