Crypto markets have been crashing for the last 24 hours. As seen in the picture above (a screenshot taken from coinmarketcap a short while ago), Bitcoin is down about 20% but (almost) every shitcoin is down way more. In case there was ever any doubt (there wasn't); Bitcoin is undoubtedly the king. When Bitcoin goes down, everything else goes down harder. When Bitcoin goes up... well, shitcoins do their own pump-and-dump cycles. This proves yesterday's point that trying to HODL anything that isn't bitcoin doesn't make any sense at all.
If this drop in price did hurt you in any way; you are not doing it right. Bitcoin winners are long-term holders. A 20% drop shouldn't have any impact on your day-to-day financial situation. If it does; you might want to take a long and hard look at how you spend and invest your money.
Where the price will go from here is anyone's guess. On a long enough time frame; bitcoin will most likely go to the moon and everything else to zero. BitConnect, to pick a random shitcoin that's popular with losers and scammers, dropped over 84% in the last 24 hours. It's fair to assume that there's no comeback from that.
Don't panic sell. Hold on to your bitcoin or, even better, buy the dip. Try to get rid of your shitcoin bags. Things will most likely turn out alright. And when everything looks grim, there's always CoinDaddy to lift up the mood:
If you are feeling adventurous (or insane), you could try to trade this market with up to 100x leverage on Bitmex.
Credits: screenshot taken from coinmarketcap, music video by CoinDaddy
