0
Example like The screenshot clearly shows the current state of the crypto market. There are only red flags all around! Major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen a huge drop in their prices. Bitcoin's price has dropped to $107,711.39, down 3.17% in a single day. On the other hand, Ethereum has fallen 4.21% and Solana has fallen 6.20%. This picture shows the extreme volatility of the crypto market. It seems that the bad days are coming back, or maybe they never left.
The crypto market is inherently volatile, meaning it fluctuates. However, the recent 'dump' has many investors worried. There could be various reasons behind such a market decline, such as profit-taking, fears of an economic downturn, or new regulatory news. The high rate of market dominance (about 58.73% in the case of Bitcoin) shows that Bitcoin's movements are driving the entire market.
The market may face worse days in the future. It is not uncommon for crypto markets to experience major "bear markets" or downturns. These periods can be long, with prices for both small and large coins dropping significantly. This can be a difficult time for new investors who are looking to make big profits quickly.
When the market starts to fall rapidly, people panic, and selling everything out of fear is the biggest mistake. Remember, the crypto market is a marathon, not a sprint. If you are a long-term investor, see this decline as a temporary storm—don't panic and sell your assets cheaply. Keeping calm and adopting smart strategies during these difficult times is the key to success.
If you are confident in the future of your chosen coins, start increasing your investment gradually, little by little, taking advantage of the price drop, which will reduce your average purchase price. But don't blindly close your eyes, use this moment to deeply examine your entire portfolio. Say goodbye to coins that seem weak. Focus only on those digital assets that have strong technology and real-world utility.
Remember, invest by doing your own research, not by listening to others. Learn more about the team behind the coin, its technology, and its future plans. The real test is to remain calm and collected during this time of uncertainty. And those who can endure this test know that every big dump actually lays the foundation for the next big rise.
