The crypto market is melting down,and bitcoin price show's it.Crypto prices is highly volatile in November falling collapse of FTX one of the largest and fastest growing crypto exchange. The exchange failed bankruptcy on Nov 11.and those shockwaves still being felt today as the FTX fall out continues. Most recently, Major crypto Lender and exchange BlockfI failled for bankruptcy last 2-3weeks.
Bitcoins price has recovered from this meltdown some what but price reaming too low growing. The coin reclaimed $17.7k+ this week and remains at the price point as of view.what do you think,bitcoin price is still correction? I personally thinking about that bitcoin price will be recover again.
It's December and holiday so usually we have this sort of small rally. I saw the price hitting above $18k a couple of hours ago, so probably this might remain till the end of the year and we should be glad that we have a recovery already after the FTX debacle last month.
But it doesn't mean though that we are out of the woods yet, again this is December so we might see some rally but I doubt that it will be sustainable.
So just don't get excited, just continue to accumulate.
Im already numb on these kinds of fake pumps or some small increase just to make out some sort of positivity towards the market.Im not making myself that too confident or trying out to convince myself that it
is not still an assured turning point so that you wont really be making yourself that expect much that it is already the start of the bull run.It wont really be a smooth sail ride and this should really be puts up into
your mind.If you do able to accumulate up big on the time that this market is still on bearish state then you would eventually be able to make profits later on.
It would really be just a test of faith and patience and belief whether you do really have that positive insight towards on w hat you do hold.
Correction and decrease in value is just part of a market cycle.If you dont make yourself wise on taking up decisions then you w ould really be just
missing the opportunity.