When we get price falls like this, a lot of people get frightened, especially if they haven't been through one of these volatile crypto cycles before. Those who bought near the recent top will be feeling particularly bad. Many will cave into their fear and sell. In my old line of work - psychology - there is a saying: when you feel bad you make bad decisions. A lot of people are making bad decisions right now and that is putting a lot of downward pressure on prices - more than there has ever been probably.

Having said all that, the market has never been as large or as liquid (sic), and we had a good week so far, if If the uptrend is maintained we can be in the presence of an imminent recovery.

Now that Western institutional money is involved, all crypto will initially see a sharp sell-off in the wake of a massive risk-off event in the DJIA/SPY.

Simply because, like back in 2008, if you got margin-called, a lot of desks liquidated everything & anything to cover. Also, there's truly not much liquidity on the books.

The real question mark is what happens on the bounce/rebound since Bitcoin is by and large a new borderless asset class (i.e. "digital gold") that may react differently to things like geopolitical turmoil.

Seller gains fiat, loses bitcoin Buyer gains bitcoin loses fiat When the trade book has more people willing to buy bitcoin for a certain fiat price, and when that price fills and executes, the next price in the trade book is a higher fiat price to buy bitcoin and that's how the value of the bitcoin/fiat ratio rises/falls and vice versa.

Bottom line is that its all about the perspective of value if you value bitcoin more than fiat and put your money where your mouth is.

Get solid coins, with strong support, strong history, etc. BNTY is a popular, coin of the week type, but isn't the kind of coin you can be certain will have a strong rebound. Also consider the possibility that this correction will last a while and we could have a full-on crash, sending BTC prices to maybe 5K. Not saying that's what I believe will happen, but it is a scenario. If that happens, you don't want your money in weak coins.

This new technology will always lend itself to scams, since anonymity and very few regulations allow it, that's why it's up to us to do our research to know if an ICO is going to work or not, and when the management is bad you can forget about that ICO because they are usually a disaster.