Much of this month has been a time of turmoil for markets across the world. Even Bitcoin, the primary cryptocurrency, has fallen from $8000 to $5000. Currently, there are no clear signs of whether bulls are going to take control, but Bitcoins current oddly high correlation with traditional assets has held its price low. While many cryptocurrencies are now sitting on the stands, stablecoins have picked up. After the recent market meltdown, there had been a
rapid growth in the stablecoin demand.
In bearish phase comes with lots and lots of things such as uncertainty, panic, fear etc, while most people might be deep in loss in some coins some might be lucky enough to have moved to stablecoins. Before this bearish phase fully sets in, most people moved to stablecoins and some are still doing so which has resulted to the high demand of it. Also, some who believes in their several coins or holdings still held on as they know the market will recover. About your question, in my own opinion, I think holding stablecoins is a good call as it will enable you get good coins when the time is right. On the other hand, if someone is holding BTC and is already in loss I do not see any need to sell because once the market corrects, Bitcoin will take the lead.