Cryptocurrency Market in Red: Understanding the 20% Drop of Bitcoin
The cryptocurrency market took a hit over the night, with Bitcoin dropping to $40,950, a 20% decrease from earlier this week. In this video, the speaker talks about his predictions and strategies in the face of this market correction.
Not Too Concerned: A Personal Take on the Latest Correction
The speaker, who has been in the crypto market for about four years, admits he is not very concerned about this correction. He sees it as a regular occurrence in the market of crypto. However, he understands that for those who are new to it, this could be highly distressing.
Not Yet a Bear Market: Key Mindset During a Market Correction
Despite the market dip, the speaker does not believe that they are in a bear market yet. However, he acknowledges the possibility of being wrong. In his opinion, as long as we have not experienced what happened in 2017 in the crypto market, there is no available basis to say that it’s a bear market.
Market Correlation: A Brief Explanation
According to the speaker, the current condition of the stock market affects the crypto market. He supports his point by explaining the market correlation between the two. He even recalls the covid-19 pandemic’s effect on the crypto market, which makes it more volatile in such times.
Keep Things in Perspective: Understand the Crypto Market’s Nature
The speaker also reminds his audience that crypto investment is not set in stone. It is not an exact science, and the market often does the opposite of what everyone had predicted. Hence, it is vital to have enough information, understanding, and a long-term perspective in trading crypto.
Strategy Considerations: Patience and Diversification
The speaker provides an investment strategy on how to approach a bearish market. He suggests always having at least 20-30% of the portfolio in liquid form to be ready for times of crisis, as these are also the opportunities to make the best profits. In these situations, it is also advisable to invest in other altcoins that the speaker personally knows and trusts.
In summary, the recent dip in the crypto market should not cause panic. Instead, the speaker calls for understanding the essence of crypto trading and suggests maintaining a long-term perspective, patience, and diversification in investment strategies.
Source : Julien Roman | Date : 2021-12-04 11:15:00 | Durée : 00:08:35