The widespread drop in all cryptocurrency prices that occurred yesterday caused the markets to turn red and more than one to sweat deeply. Faced with a scenario that could be reminiscent of the massive crash at the end of 2017, getting nervous is undoubtedly a normal reaction. But do not spread panic.
Cryptocurrencies recover their value after a very pronounced drop, or dip … which turns out to be the ideal time to buy more
As we reported yesterday at this time, the movement towards the abysses of the market had all the signs of being a correction and not of a crypto apocalypse. Today, 24 hours later, the market turns green again and prices rise sharply, confirming the correction.
Bitcoin is back above $ 50,000, with the rise for ADA, DOT and ETH exceeding two percentage figures. While pre-crash prices have not been reached, that’s exactly what a correction is all about – a sudden decline, then rising and stabilizing at slightly lower prices.
It is important to note that some think that it could be a dead cat bounce, or dead cat bounce. This term refers to a very steep fall that acquires a certain bounce upwards and then continues to fall, just like a rubber ball would do … or a cat that jumps from a tenth floor.
This does not seem to be the case, since the recovery in prices is quite pronounced and not at all timid. In most altcoins, prices are framed to what we saw a week ago, with many of them in their best historical moment.
Yesterday was a great opportunity to buy more cryptos that could be sold today obtaining an average of a 10% profit or keep in an indefinite hodl waiting for greater increases. Remember that investing always carries risks and that it is possible to lose all your money in a moment!