As expected, Bitcoin & altcoins have dumped. It is a logical and healthy correction: the parabolic growth coud not last forever, a correction was required.
The main questions are: where will it stop and what is the best strategy?
This kind of correction is organized. The whales have let the market grow during the weekend. They returned to work today and placed their sell orders, giving the signal. The rest of the market followed, what dumped BTC price, with most of the altcoins, since they are traded vs BTC.
ETH has even more suffered than BTC, returning below $1000, whereas many people thought it will reach ATH. But as the night is coming over Europe, calming down the selling passion, ETH is rebounding and returning above $1000. We all hope it will make a V shape. Nothing sure yet. However, it is a good opportunity to buy some cryptos at a discounted price:
- ATOM at $5.50, i.e. late December price, which looks like a support - COSMOS blockchain still looks quite promisng
- Polkadot below $8, also seen previously in December - a good discount since this project has still the same potential
- Cardano around $0.25 - also an excellent opportunity, since Cardano has recently become the biggest staking network
- DeFi tokens like YFI & SNX are also discounted due to ETH dumping - SNX potential is huge, please click here for more info
The list is not exhaustive. This huge decrease gives us the opportunity to buy the dips. All fundamentals of good projects are still there.
Click here to earn more cryptos.
