Only red lights have been burning in the market for several days now. Many have investing and lost a lot. I have lost a lot by investing myself. I don't really understand which way the market is going or will go. What do you suggest in such a situation?
The market may drop but I don’t really think that it is going to be as much as it was in 2018. The market has passed that level now, and it has a bigger market cap than what it used to be then,. So, even if the market should go down at this point, the drop is not going to be too much like then, it will still maintain a higher price.
If you check in 2018, the market went down from around $20,000 price to below $10,000 (I think it dropped to $3000), but this time around if the market should drop, it might be stopping above $30,000 or even $40,000, and then we will be expecting it to go back up again. So even if you are losing money now, it doesn’t mean that you are going to be losing money forever, there will still come a time that the market would go up and you would recover all that you have lost in the market.
Well, you'll probably lose if you decide to sell your coins at this current corrected price but if you will be more patient and understand the market condition, then you will not be in a worst situation like weak hands do. I know as long as there is correction, we will surely observe prices declining but this will not be totally the same like we had in 2018. We are now at a higher level and with a higher market cap compared to 2018 and there are bigger institutions right now that are going to support bitcoin so its very unlikely to say that we are heading back to 2018.