Crypto Adoption and Market Corrections
Crypto Market is like a Zion train that never stops but goes round to make sure it gets everyone onboard. When Bitcoin was first introduced in 2008
Not everyone understood what it was, some thought it was just a scam. As time went on some people understood what it was and they liked the concept of sending it across the border in seconds without 3rd parties involved. So some started abusing it by scamming people in Ponzi schemes using Bitcoin. Up to now some people even think that Bitcoin is an investment scheme, but well it's just an asset that represents money used in making payments.
Today we have about 4% of the total population who are using cryptocurrency. So we can see that people are adopting Crypto Bit by bit and soon we will have more than 50%. Many big players in the Cryptoverse play a big role in letting people know about Crypto. Crypto.com is doing a great job, it got into a deal with Staples center and renamed it to Crypto.com, its sponsoring Formula1, it sponsors UFC, it had the chance to showcase at the Superbowl, and now its sponsors FIFA World Cup, etc. So with this so much work happening there is no doubt that by 2030 we will have 50% in Crypto.
Crypto markets always go up and down because that's their nature. When we are on a bullish streak everyone will be thrilled and they think that the
Markets are forever going up. When we get into a bearish streak they start frowning and saying "the market is crashing, I don't think it will rise again". When markets go down a lot would be happening behind the scene, remember Cryptocurrencies are like shares or any other digital asset on the Market. People will buy low with the intention of selling high so that they make some profit, so when you see that just know that people are taking profits and stop asking questions like why is the price going down.
In all Financial Markets, there is correction, if the price goes up it creates Higher Highs, Higher Lows, Lower Highs, and Lower Lows or it can create a void and later correct it. So when you see a sharp increase in the price without any retracement, you should know that a correction is imminent. So such things happen in Crypto and you should not worry when you see those. That is why it is always advised to use money which you dowanna use in a short space of time.
I mentioned that the Crypto market is like a Zion train which makes sure that everyone is on board. People are adopting but they are not dumb to the
extent of buying When prices are at the very top. Newbies who lack Economics basics or financial literacy make that mistake but some are clever enough to wait for the price to go down and embark when it's down. That is why there is an accumulation phase in the markets, investors will be opening positions creating demand, and boom the price shoots up. There is a saying which says, "Do not try to catch a knife when it's still falling because you might get hurt, but wait for it to hit the ground then pick it up". You do not want to buy when everyone is selling, wait for sellers to shake off then buy.
Corrections are necessary because they let new players into the market and therefore the number of adopters will keep on rising. Always know when to buy and make sure to invest spare money so that you don't always keep your eyes on the daily market moves. Always make sure that mistakes happen because we are humans but do not let your emotions determine your next move. The market preys on the impatient, the emotional, and the weak.
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