A day to be remembered
Today is one of the worst day for crypto traders in the year 2021, it all started with elon musk tweet suspending the use of bitcoin to purchase vechicles from tesla and that was how the dip set in to the extent that btc dipped badly to 38k while alts and shit coins followed the downtrend, well the dip started few days ago but today's own was extreme.. most of my friends lost a lot and i can't exclude myself either but as long as there is life, there will be chance to make more...
I know that with what happen, some people will never have anything to do with crypto again especially the newbies that joined during the bull run. they think it is always green but got the surprised of their life this week, i saw so many update on people losing their funds and they feel bittered, the weak hands couldn't bear to see their portfolio so they sold off but it seems this is just a retracement and the rumour of china banning crypto added to this fud that made btc dip so bad but good it is bouncing back slowly and already reached 40thousand usd again..
This was expected but i never imagine it to be so fast, the moment shit coins started gaining momentum and making the alt coins look stupid i know bear market is near, many people joined the race, those who had no idea about cryptocurrency started to buy in order to make profit and in my own opinion i think this dip is just to send the weak hands away..
This doesn't mean it has end or it won't happen again, if we are lucky enough to get past this dip, then try to get out some money because we are yet to see the father of all dips and it can happen anytime, it will come unexpectedly just like this and leave so many people heartbroken especially those buying into the all time high of coins.
To the dogecoin buyers, the future is unpredictable but be careful with your investment, if elon plans for doge really work out, it could be life changing opportunity for you but if it fails then your life savings in the mud, just make sure you invest what you can afford to lose to avoid had i know later...