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Cryptocurrency Update: Bitcoin and Ethereum Down by 30-40% as Correction Accelerates, Time to Buy?

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Cryptocurrency Update: Bitcoin and Ethereum Down by 30-40% as Correction Accelerates, Time to Buy?

Introduction

This article was posted on Thursday, 15:06, UTC.

How long will the correction last? This is probably the biggest question in the minds of the crypro-trading community right now.  As we warned yesterday, and (a little early) last week, Bitcoin and Ethereum were overbought on the long run and we concluded that: (…) a 30%-40%-50% correction, that has been the normal for Bitcoin in the past, is a huge psychological burden that makes a panic sale likely, usually just before the bottom. Because of this, it is better to wait for the correction and oversold readings, even if you will buy it at a higher price later on….

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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This question keeps coming in crypto articles and communities and…