Hello everyone,
How are you all? I hope everyone is fine and doing great in life.
The market has been on a roller coaster and we saw the same levels as we saw in alt coins in the month of September and October. It literally took few days to kill the pump that took all the way a month to show us those levels. Anyways, we will learn about the current market situation in this blog by analyzing bitcoin.
Below you can see the chart for bitcoin for last seven days.
The peak in the history of bitcoin was 108k USD and that took place during the last week itself and since then we witnessed a 15% dump approximately to 92.8k USD of price for bitcoin.
Check the screenshot below to see the dip along with date as well as time.
Now the question that comes to our mind is what will happen next or maybe what we should expect next? The reality is that Bitcoin as well as ETH have a historic data of getting dumped by 20-30% and believe me we all consider that a healthy correction.
This means that we might see even lower levels and if that happens Alts will bleed heavily. The only thing that will make them positive is Ethereum dominating bitcoin. I have my eyes on that event and I think we are very close to that moment.
Until then you just have to hold your spot balance and DCA in case you plan to invest some money.
Thank You