Testing patience. The crypto correction is here.
"At the end of the day we can endure much more than we think we can" Frida Kahlo Well here we are folks, the long awaited correction in BTC and the cryto space. For those of us that have been involved in this asset class for longer than you can say "Boo", this is not something new. In the last 5 years there have now been 3 major corrections: the 2018 70% meltdown, and the early 2020 50% fall. So the current 40% or so retracement, while not a particularly happy experience for Bitcoin investors, is certainly something we have come to expect. $34,000 is first resistance level What has caused the correction? I see 5 key reasons (in no particular order): Technical factors (see chart above and May 16 link below); Linked to point 1 are the leveraged positions put on by numerous investors/traders over the past few months that now need to be unwound as losses mount; Elon Musk tweets/comments about Tesla not accepting Bitcoin for payment; Environmental concerns (highlighte...