Crypto Meltdown: What's my take

Crypto market had another meltdown today. Nothing serious, just usual stuff. There was some rumor of hacking on some shit exchange you probably never heard of, someone important in the govt. said something though he doesn't know anything about cryptos and some usual speculation of market manipulation. I created a small position just before writing this article because I think, it will be all green in the morning.

I think we have to manage our expectation at this point. Don't expect 20k anytime soon. Whatever someone says, don't buy it. We had a huge pump and a slow dump, now its time to wait and consolidate. Create a base, set a new normal. Once 7 - 8k starts to feel normal, we will start moving up and this time it will be for real. I am sure we will break 20k again, but not this week or month, probably not this year either. But when we do, it will be for real this time. You will feel it coming. Till then, swing trade.

Disclaimer : Only invest what you are comfortable to lose. This is true for any investment. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely your responsibility. I am just a guy with an opinion like everyone else on the internet.