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DEFI TIMES


Jan 17, 2021

We had a decent pullback on Monday; almost all cryptocurrencies corrected by 20-30%. It felt like a bloodbath for people who are new to the crypto space.

Bitcoin crashed from $42,000 to slightly below $30,000. It was especially painful for newcomers. For the first time since 2017, we had a significant number of new people buying Bitcoin and ETH. These people only experienced skyrocketing prices so far, but crypto can be ruthless sometimes. Many people were washed out in a matter of days.

We get a lot of questions about whether this bull market could be over at this point. Are we in a similar situation to December 2017, after which we saw a 3-year long bear market? Could this be the peak of the bull market in 2021?

Most likely not. I believe we are still early in this bull market: relatively in Q1-Q2 2017.

Today, I want to explain why this correction is exceptionally healthy for the market. I will give you three reasons why this dip is a net positive.

DISCLAIMER:

All information presented in this podcast is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This podcast’s content solely reflects the opinion of the producer, who is not a financial advisor.