Take profit! Take profit!! You've been warned, do not end up like many in 2017 bullish cycle, there is always a end to everything and nothing goes up forever, everything happening in this world is merely time based, I'm not saying BTC can't go to 65k or more but this market is getting more dangerous every day, to me crypto market is now in gamble state, don't be a tool to those who are experts in controlling the masses, you think there aren't those pulling the string? Wake up already.. we don't know how longer they will keep pulling the string and roll you over, be smart
The current drop in the cryptocurrency market is another confirmation of the cyclical movement of prices in this market, as well as the fact that prices on it cannot rise for too long. During the period of growth, there will be a decline, and this should always be remembered. Therefore, periodically you need to fix your profits, if possible. Better then to buy at low prices than just watch the rise and fall of prices in this market.
Therefore, at the same time, one should not panic. After a while, the price will go up again.
If you see the chart with long term perspective like all time chart it just looks like a correction honestly. It's just bitcoin price is too high that a correction could make it go down in value as much as $10K but it's completely normal, just try to see the bullrun within 2017 aswell it has some correction that quite similar to bitcoin right now.
But indeed if worst come to worst and bearish market is really coming since many people have said that it's happening every 4 years then our best course of action is to buy instead, just see the bullrun right now compared to year before, it seems the bullrun just becoming larger and larger.