Doggy can ride the waves

 This week we have witnessed a bloodbath for cryptos and the "People's coin", the doggy coin (Dogecoin) got a haircut and lost value by nearly 50%. There is certainly some panic selling but if you ask me, what's to worry about? The Doggy has an expert skill to ride the rough waves!!😄😜 

Image source: People

 Now seriously, if you know anything about the history of cryptos, volatility is just part of daily life for it!

Let's use Bitcoin as an example. In its last bull run back in 2016-17, it had experienced at least 6 times of crashes by 30% or more....

So don't sweat a bit if you are serious about Bitcoin. There is a very long way to go to its top.

Having said that, I do feel we are seeing a temporary top for now and we may be entering a consolidating period that may last for months, if not years, in a wide range. I don't feel we will see a breakout to the upside through the recent high of $64000 any time soon. For one reason, there are still too many people eagerly waiting to catch the falling knife. This is usually not the bottoming sentiment. I hope to see widespread outcries and desperation and no one is interested in buying it or even talking about it, then the ultimate bottom is formed.   We are far from it!!