The bull run took a break, but it's not finished. In two months we watched Bitcoin surge over $30,000 breaking 58K. Ethereum surged over $1200 breaking $2,000. When the leaders of the pack surge, the rest of the coins follow. There were multiple coins such as BNB & ADA that were up over 100%. We witnessed a massive influx of capital into the cryptocurrency market in such a short period of time that a correction was imminent.
Corrections Are Good
After breaking 58K, Bitcoin began it's descent down to lows of 43K. When Bitcoin corrects, the rest of the market copies but usually more severe. A big contributing factor to an even larger correction is panic selling. Some fear that the price will never recover and sell for a loss. It's important to remember that corrections are good and part of a healthy market. The price can't go up forever. A correction is just investors taking profit, which will then be used to buy in at a lower position or maybe even higher if not timed correctly.
Buy The Dips
This saying, "Buy The Dips" is something important to follow. When we witness a correction, it's a good opportunity to acquire more assets. If the price drops bellow where you entered into a position, then purchasing more will help lover your average cost. If the project is something you believe in, then don't panic sell. Always think long term and remember how new the crypto market is. We've seen how rapidly prices increase when only a few institutions buy in, so image what the market will do when 10's and 100's of institutions buy in.
Last piece of advice, don't invest more than you can afford to loose. It's an awesome feeling when a coin you own goes up 100% but also understand it can drop 100%. Being over leveraged in a position, often leads to panic selling. Making wise investments allows you to ride out the storm and come out even better on the other side.