1.2 trillion dollars disappeared in just 10 days from the Crypto market ...
It took us more than 3 months to go from 1.2 to 2.4 Trillion and only 10 days to do the same journey in the opposite direction... which is volatility at its maximum exponent.
Specifically, they fucked all the newcomers who bought BTC or any other crypto in the fervor of the bull cycle, in the heat of the new hot product, aka, DeFi, and the promise of 400,000 USD by the end of the summer.
It is possible that I will be wrong again, but this correction has been super painful for many... although perhaps not for me and for those of us who have been in crypto for a few years now.
All those who had to "transport" us to "Saturn", the so-called newcomers, have sold at a loss or have become forced HODLRS, praying that at some point BTC reaches 50,000 again and they can get some of their money back , because most of them bought BTC 3 months ago being this already above 50,000.
What can happen now?
Possibly the latter... the "new HODLRS" will try to hold out until they reach a figure close to their entry price and sell either at a loss or with minimal profits and WILL NOT put a single penny in crypto again, possibly ever again...
The selling effect may be the trigger for another correction towards a lower limit as I said yesterday... unless the institutions clearly see the opportunity to buy massively, today it is not clear to me that the market can rise next...
I'm worried that the market has treated rookies so badly that we can't catch up with this drop ... but for now let's hope for the best.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.