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RE: Btc and Ethereum 20% drop! What does it mean? The good and bad.
Ethereum is still up 25%+ over the last 7 days.
Although BTC is down 15% over that time.
Most coins are still down but i bet in just a week or 2 they will be back to pre dip.
I can see it dip, and spike up for one more hoorah, but people want to become millionaires or dont want to lose their money. And because majority of people dont understand the $100 billion crypto economy, they will cash out.
I think a lot of people are putting their money in cryptos as they dont want to miss out becoming a millionaire. But they aren't even interested in making 1000$ into $1100. They will hold on until it doubles, triples or hits $1M, they don't care if it goes up 20% one day and down 25% another. They want big gains and are treating it as a lottery. Nobody ever sells their lottery ticket.