I think it is not a coincidence that in the same days the stock market was red, the crypto market got red as well.
There is a link IMO , so
there is not reason to think crypto is worthless, or that it is less worth than stocks.I mean, it is not true that crypto crashed alone, while the rest of the world was happy.
When the crypto crashed, usually other markets crashed as well, like in the last downtrend.
Also, remember that the long-term profit that crypto gave us would not be possible with stocks.
Now what should we do?
I think that as the stock market begins recovering, crypto will follow.
But it may be a slow process, i.e. we lost 15% in 2 days, but now it can take weeks or even months to go back to the previous situation or even better.
This is because stocks are not going to recover fast:
https://www.marketwatch.com/story/cnbcs-jim-cramer-says-stock-market-is-in-a-very-serious-correction-and-theres-nowhere-to-hide-2018-11-12I really don't think that there were any ties between this crash and the stock market also crashing.
The US stock market was already correcting before this current bitcoin dump which sent prices down below the $6k support, and is currently sitting at between $4-5k which I believe will be the level that is upheld over the next few weeks. And stocks were already overbought way before the current correction in bitcoin markets, which means that an adjustment in shares prices was imminent and a matter of time.
Bitcoin's crash I believe is completely independent as a result of its own reasons for happening, which led to a panic dump in the already bearish market, which is nothing out of the ordinary. In fact, i would have been surprised if prices didn't adjust down further within this bear market. I also don't expect bitcoin to recover only due to the stock market recovering. Bitcoin is a currency that is independent and decentralized from the traditional banking system, while stocks is a completely different market imho.