As of right now the sentiment of crypto is fear. Many have taken losses and realized that crypto was not their game. Other have been in the 'the game' for longer, and have 'just' seen profits gotten smaller, but are still firm believers of the tech.
This is what separates newbies from the true pros. The distinguishing factor here is that believers will continue to hold while newbies will end up panic selling all their coins, which is of course an indication of loss. Remember that this is a period where even the stock market crashed hard and the process of recovery would be on the slower end of things with a lot of patience being required.
Anyway, we are experiencing a severe market correction. But where do you think we will be in two months. Jan 7th the market cap was 820bn$. Now we are at 336bn$.
Where do you think we are in 2 months from now?
Two months from now is a pretty long time to speculate the current randomly trending market and this it only gets harder to predict as the fluctuation factor becomes too big of a deal. Yet, I see the crypto market to slowly stabilize towards the end of this month, while continuing on a bullish trend in March!