The market in these hours has undergone strong corrections but nothing dramatic, Bitcoin has dropped to 58k dollars, a decline already predicted by many traders and is increasingly confirming a trend very similar to 2017.
Font: Smart Crypto / Twitter
This chart excellently shows the similarities of the run expressed in BTC / USD: today's correction is really identical to that of 2017 and it is possible to see how a bullish march is subsequently expected immediately after, then a new correction and finally a rise (over 100k ?).
For example, it is difficult to explain today's correction, there are no particular negative news that can explain what happened, but it is likely that the whales are somehow manipulating the market to follow the 2017 cycle. This, for example, alarms me on possible traps during the bullish phase when all retails investors, driven by the enthusiasm and the bullish chart of the previous bullrun, could invest capital and then find a nice trap and a strong correction, with huge losses in case of trading.
A retail investor who today wants to enter the market to trade risks a lot in my opinion, I would opt more for small investments, constant over time and the goal must be the long term. Only in this way can one preserve one's capital from the greedy strategy of accumulation and manipulation by the whales.
For those who had the opportunity to enter the crypto sector in the bearish period, now they can rejoice but it is necessary not to be imprudent or too self-confident. When you think you can make even more money, it is much easier to lose money. I entered the crypto market exactly four years ago, convinced that I could easily multiply my capital and in the end I lost everything. A hard lesson that I like to share to attract new users who enter this beautiful, promising but very dangerous market.
The long-term goal protects us from traps, corrections and manipulation. For example, those who bought Bitcoin in 2017 at $ 20k, if they haven't traded in recent years, have tripled their investment today. Those who panicked, on the other hand, have certainly lost a lot.
So do not get caught up in emotions, always be modest and especially if you are not trading, avoid potentially dangerous moves. A few simple tips to safeguard your capital.
Thanks for reading my post