How far will the correction in crypto go for?
Well, it looks like my blog about a correction in crypto was right:
- BTC: after reaching an unprecedented high of US$11,427 on 29 November, it has now lost 19.4% in less than 2 days (down to a low of $9,202)
- ETH: after reaching a high of US$519 on 29 November, it has now lost 21.9% in less than 2 days (down to a low of $405)
- LTC: after reaching a high of US$104 on 29 November, it has now lost 25% in less than 2 days (down to a low of $78)
- BCH: after reaching a high of US$1,719 on 24 November, it has now lost 26.2% (down to a low of $1268)
...and the list goes on. What are your thoughts about the trend over the coming 1-2 weeks? Will the correction continue, or was this just a hiccup along an upward trend? Why do you think that?
Most will buy the dip, it's too tempting not to.
Exactly, I think we're too far to have a crazy dip
There will be a crazy dip for sure, but people will still buy it. It could drop 50% in 3 days. Hell, it dropped 20% in one day. But then again it comes back just as fast.