🥊 * Rant Starts * 🥊
Many have been commenting things such as 'blood bath' and 'it keeps going down'
Let's make something clear
entire cryptocurrency market is on a huge correction
Corrections are good, if you are looking at the long term health of an asset, coin or market. There are many players involved, many people bought Litecoin and other cryptocurrencies without any knowledge of how this market works, the price goes high, everything shoots up, but the time to take out some profits finally comes. The experienced players are hungry they want their gains from the purchase of their coins
There is also market manipulation, media manipulation and so much more. Our natural behavior as well, panic and other factors. But none of it is a big deal for those that are trading to make money, for us this is just a situation to watch from which we can benefit as well. Look for a re-entry price and how to maximize profits when the correction comes to an end.
Corrections are good. This type of correction happens after a phenomenal bull run, the price of Litecoin reached an all time high, the market grew to new levels, it is safe to say we reached a top, now we want to know our bottom is, taking to account all the factors mentioned above panic, media etc. we want to know this market more. So we retrace looking for support, until we find one... we are getting close.
At the end of the day, Litecoin (currently classed as an asset) is up over 4000% in a year! If anyone can find an asset that provides a greater return then please share. If you cannot then please STOP with the complaining. Assets do not exponentially increase forever! If you really expected Litecoin to show gain increases of tens of thousands of % in a year then investing is not for you, dreaming is. Be patient and act like a true investor
We buy in dips and we have waited years for a healthy return on litecoin. If you are new to the game the same applies to you!
Believe in the technology, believe in the coin and you will never let it go. you should not be losing money in crypto and if you do you shouldn't be in this space
Happy Hodling !