If you’ve joined this sub in the past few weeks you may have seen a lot of advice to “buy the dip” when the market drops.
You might have seen today’s correction and thought about pulling the trigger when you saw a lot of the alt coins were -10%.
The reality is, most of these coins were available at these prices last week, or a couple of weeks ago and in crypto, this is a slightly bad day and not a dip.
When BTC and ETH are down 10% that’s a correction, when they are down 15-20% it’s a dip. If they get to $40000 and $2500 again respectively, that’s a fire sale.
TL;DR Dont blow your life savings thinking this is a dip. By all means keep averaging in, but know that this is far from a real dip in the crypto space.
EDIT: thank you to the person that gave me my first ever award 🙂