to constantly learn, even if people think you are stupid or foolish”
Bitcoin’s sell-off just a crypto market correction
The sell-off of Bitcoin and other major cryptocurrencies that we’ve seen in recent weeks was a standard market correction. No more no less.
Two weeks ago, Bitcoin edged close to its lowest level of the year, continuing in bear territory throughout last week.
Other major cryptocurrencies also experienced a sell-off over the last two weeks.
However, the crypto markets showed positive results on Monday, with the bulls driving Bitcoin back on a rally.
I’ve been quoted as saying many times over the past few months, cryptocurrency markets are prone to volatility far more than traditional markets.
As such, the recent sell-off was only ever going to be short-term, despite the crypto cynics wanting people to believe otherwise, and prices were assured to increase again at a relatively fast rate. Which is what’s happening now.
Before the sell-off, Bitcoin enjoyed a remarkable rally, topping at around $8,300. Therefore, the actions over the past two weeks were a straightforward crypto market correction.
This type of volatility is welcomed with open arms by the majority of investors, who view it as an important buying opportunity.
They are aware of and understand the digitalised, globalised world we now live in, and the importance of digital currencies.
Shrewd investors recognise that cryptocurrencies are the future of money.
Furthermore, these investors realise that enhanced institutional support and more stringent regulations are becoming ever more inescapable and may happen a lot sooner than originally thought.
These savvy investors can see how an increasing number of global financial institutions, major corporations and well-known investors are using cryptocurrencies and blockchain.
And, of course, perceptive investors understand that what we are experiencing now is a comparatively new market maturing. Consequently, we’re seeing ups and downs all the time.
As a result, these investors know they have two options when it comes to digital currencies. Either buy and focus on the long-term; or miss out.