what we saw was just a correction, it was an important one but that is the kind of thing we see in this market from time to time and I am not worried, and even if this eventually means that we see a crash I will see this as an opportunity to buy bitcoin one last time for a cheap price before a new bull run.
Yes, people here must need to understand how the crypto market is trading among corrections and recovery phases; today we are seeing market is getting back to recent high which must be the enough reason why we should not bother about any short-term correction because market will not continuously rising up so we must give it to time to get power through corrections (corrections are sometimes termed as power gaining phase of market).
When market is not powerful enough to break support or resistance then it will have small correction and then will recover to break that support or resistance.
That is the way this market should be understood but newbies come here with completely unrealistic expectations which are the main cause for their losses, after all it seems they think they can invest in bitcoin and then become millionaires a few weeks later and while it is possible and it has happened in the past this is not something that can be replicated.
The best strategy for newbies will be to come to the market and buy bitcoin when it is relatively stable, which is what we are seeing right now, and then wait for the market to begin to grow up, but most of the time they do the opposite with the majority of the newbies being right now invested in altcoins thinking they can obtain more profits that way, and while that has been true during the last months there is no doubt in my mind that a crash on the altcoin market is coming and you do not want to have your money invested there when that happens.
Without proper knowledge, the risk is too high for all those newbies that have a mindset that this venue of investment is a quick passage way to richness.
With such mentalities any corrections that may happened will be a sign of having lots of panics and money that has been invested will surely gone.
They needed to realize that trading is for those who are willing to work more harder to succeed, not by luck but by knowledge upon them.