Market has gone down by almost 20% from the last high that it touched. BTC was at around 48K and now back to below 39K :-(, Everyone was anticipating a rise in the market after the ETF announcements but rather the market worked in reverse manner, and this is what the trend that I always see. Whenever there is a anticipated hype the market works in the opposite direction. Anyways, is this anything of concern, then the answer is No. It's just a little correction, which can go lower further by 10% to 15% also and then it will bounce back. The only disappointment I had is with ETH, because it did not move for a very long time and when it did the market came down again. It briefly crossed the much awaited 2700 mark and then now dropped back to 2200.
Bull run does not mean that the market will just keep moving up, there will be corrections on the way, the last run had 3 major corrections on the way. So this is nothing to worry about, it is all part and parcel of the cycle. Many anti-cryptos have again started with their rant, saying things like, see how unstable it is and not at all a safe investment option. I believe this market is not for the faint hearted and also not for fickle minded people.
This little dump is just in the passing and I am sure in a few days time we will again see it rising. Most of the coins have seen a 20% decline in the prices. Solana, the one coin which has been moving up very fast has seen almost a decline of 35%. It went uptp 114$ and now at 84$. Which also makes it a good opportunity to buy. Solana is one lucrative coin for this season.
So let's hope that now the market reverses again and we get to next high level which will surely be much more then 48K of last BTC high.
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