Market corrections don't phase me anymore because i have understood underlying dynamics of the crypto market. The massive correction we experienced in the market is a normal cycle it presented three positions for investors.
Entry position
It is important to note that that the current entry position this market has given to us is rare. I remember a lot of people gloating at the fact they didn't get into bitcoin on time. There is no point beating around. The market has bounced and bitcoin in a few months will be at new ATH. It would only be wise to get on board now or miss out again and wish you bought. I believe sometimes the market has an uptrend and does not provide entry position. If the market ever presents an entry position after a massive correction it is a rare opportunity
Hold position
Basically i believe mature investors who are in on long term basis and are aware of market cycle had to hold their bitcoin all through the fire. They know that the fundamentals of certian cryptos are still intact however, price will rise overtime irrespective of fluctuations.
Exit position
As an active trader everytime a crypto hits an all time high. It is advised to take a bit of profit because a correction follows afterwards. With bitcoin hitting $20,000 it was a good time to exit the market and get ready for a good entry position. You must be highly skillful in technical analysis to have a good ride at it.
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source warosu.org
MARKET CYCLE
A few things i noted before the massive correction it helped to deepen my understanding of market cycle and stay out of huge loses as an active trader and as a Hodler
Having this information enabled to stay on top of my game and make provision for loses.
It is not a coincidence that after a massive correction bullish news start trending to drive price up. It only represents the actions of the elite who control the market. Yes i can only help but agree that 2018 will be another great year for cryptos with several hitting new ATH
Buckle up and toast to our victory ahead. Be skillful know when enter,hold and exit the market.
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