Actually, no one knows exactly how far this correction can go. What we have are just speculations since we are only basing mostly from its history, and anything could happen either based on our own speculation or the opposite way. But let’s not make this a barrier that we can’t make profits this time. Of course, we can still take advantage from the current correction by buying bitcoin and solid altcoins in their low prices. This may be risky as it is as the price could still go lower but as long as our intention is to hold them for long, then price corrections do not matter at all.
I would say if it gets extended too much, then I would name it a bear run and not a correction. We had correction already and that should be it, we do not need to call every single drop a correction. Correction happens after a huge increase in price happens, we had that, moved from 30k to 60k and that was the huge increase, after that we had a correction.
However for a while we have been dropping and not recovering, October was the increasing month and November was the correction month, if December keeps being a correction then I do not think that it could be safely assumed a correction anymore. It is obvious that we are talking about a bear run at that point.