The slight recovery that the cryptocurrency market has been trying to show over the past few days has undoubtedly brought some relief to investors. Such a slight rise or 'pump' after a big and hard drop (hard dump) is a normal process for the market. But now all eyes are on the market's next move. Will the market be able to sustain this recovery, or is it about to face a deeper decline? This is the question that is now circulating in the crypto community.
The matter has become even more intriguing because even though Bitcoin has made a new all-time high, there is still no sign of an alt season in the altcoin market. Usually, when Bitcoin reaches its peak, altcoins also show a big pump shortly after. But in the current situation, altcoins are still in a weak state, which is adding to the volatility and uncertainty in the market.
That's why many experts believe that the market may go through another dumping phase before moving towards a real and powerful pump. This is a testing period for the market, where weak hands will be removed and patient investors will survive.
The cryptocurrency market is cyclical. We know that both good times and bad times come here. After the unprecedented Bull Run or good times that we enjoyed a few days ago, we are now going through a bad time (Bear Market/Correction). This is the inherent law of the market. Patience, proper analysis and controlling emotions are the most important during this time.
We will definitely get through this bad time and move towards good times again. Because, the history of the market says that every time after a recession, a new upsurge comes. This is the basis of the financial market—up-down, profit-loss. If your investment goal is long-term, then capitalize on this bad time and wait patiently. Hopefully, the golden days will return to the market soon.