Very possible that those who invested and follow the hypes of certain meme projects are now being shaken and start to panic, it's all on the hands of strong supporters to avoid further damages and throw those possible new investors.
Everything rely's with how investors and traders treat the situation bull will stay if strong holders and believers will stay positive
and let this artificial dump happened and wait again for another bounce.
I think as long as Bitcoin is above $ 50k the bullrun should still be going on and will probably continue until the end of the year. So there is no need
to panic seeing several altcoins falling, one of which is Dogecoin which fell quite deeply after successfully touching the ATH price. This is something
that usually happens in the crypto world, we just need to be patient and keep holding our coins. Because usually the crypto market recovers faster,
since many institutions have invested in Bitcoin.
People panic when they see the price is falling, that's normal, a specific price is not in their mind, they would expect that bitcoin will continue to rise so they will make a profit. The ATH of bitcoin is $60k, now it's already priced at $50k, if you compare, you'll see that there's a big decrease and still we believe bitcoin will pump, I guess we have to open our eyes, anytime soon bitcoin will start its correction, a heavy correction just to be specific.
If patience was the only determinant everybody would just wait, but trust me, some would wait until the end of their lives. You also need some luck with all endeavors, and the crypto market involves some luck as well. Its history is so short that nobody can seriously claim to fully understand how the market works.
No mate, not the literal "just wait" and you will become rich. Wait with enough knowledge and full consent on the possible outcome.
Right but acquiring knowledge in the crypto space can be cumbersome. A lot of the projects don't come up with trivial technology and its real world implications are often hard to judge. On paper it all looks great but discerning what it means for an application that actually gets used is a completely different story.