Hello guys, the cryptocurrency world have witnessed an rise in fortune in the last one month or so, turning a market cap of 2 trillion USD. Now suddenly we are witnessing red candles. What's going on? Is it a massive correction or are the dreaded bears coming upon us?
Don't panic yet, the market is still ok correction and dip is always here, there's always traders and investors who will sell their shares for profit, and we cannot stop them, it's how the market works, there's no such thing as one mindset, and there's always traders and investors who go against the tide, I don't see the dreaded bear trend coming in this year.
It seems to me that people really need to learn how to be more patient with bitcoin, once again it is very close to the 60k level and it is likely that we are going to surpass that level during the next weeks and then reach a new all time high, a drop of 10 or even 15% could be enough for many other markets to become bearish but that is not true for bitcoin, we will need to see at least a 30% correction in order for the predictions of a bear market to become true.