The terra crash has slowed down the correction Bitcoin was about to make

In case you didn’t notice, Bitcoin was about to make a correction. This is how Bitcoin corrections work too: the market slows down, people avoid talking about BTC, and right when no one is looking, Bitcoin corrects itself. Maybe it was, maybe it wasn’t, but now whatever potential there was happening, now is gone. Looking at the Brightside, Bitcoin liquidations were low this time. People were cautious and avoiding going long, just in case something happened, and something did. Caution pays off. On weekly timeframes, BTC/USD was near to completing its sixth consecutive red weekly candle — something which had only occurred once before in its history back in 2014.

Just goes to show, that we must not be too hopeful. Of course, on the long-term, one should not be worried, but on the short-term, yeah, you should. The Luna catastrophe is going to make a lot of people question every currency out there, and Bitcoin will be one to go one the stand as well, you better be ready to hold. In the meantime, all you have to do, is hold. Avoid the doom posts of social media, they just want you to sell early, and manage your own risk accordingly. Avoid cashing out, and stick to using cryptocurrency for pretty much everything, even regular things. There are now platforms like Binance pay that allow you to pay (without fees) with crypto or even places like exeno that allow you to buy and sell things with cryptocurrency at any time you choose. Try to avoid cash and use those places instead. Things will surely recover, but not for a while now. Whatever chance there was in recovery, rest assured, it’s well beyond and gone now. You have to have patience, lest you risk losing value this early on.