I agree, it's most likely over. Most likely. For a while. For a short while or for a long while, that I don't know. And let me explain my point.
What we are experiencing now is not just a correction. It's a fucking downfall. Like a rock from a cliff. The "greater fool theory" has reached its climax. There is no greater fool to buy a BTC, because it's not going up anymore. Well what's the reason to buy it then? What is the reason? I mean, think about, the reason why it blew up so high Nov-Dec was that EVERYONE was buying, and then the altcoins followed. The only hope for the mania to continue we had was Wall Street, but hey, guess what, Wall Street thought the other way. And this is not just a correction, this is NOT a correction when BTC falls 40% EVERY week after week. It's like 40% down per week, little bounce back, 40% down per week again, little bounce back again, then down again... And that's what we've been seeing starting from the first days of January. I hate to say this, but the altcoins are gonna be in even worse situation.
And not to mention all the good stuff that's been going on (Lightning network, etc.), but guess what, now it's not gonna help the price. Because losing 70% of value is a crash. It's a complete and utter crash. It's gonna take A WHIIIIILE to recover.
I am very stupid. I hodled all the coins I had and didn't sell anything when I knew I had to. I didn't listen to my gut feeling. Now I'm down 80% on my altcoin portfolio. And to tell you the truth, I am still in profit simply because most of the money invested was March to July. So I'm still sitting at a good profit. But the bull is over, guys. It's OVER. 70% crash means the end of the bull market. That's certainly not the end to cryptocurrency, as it won't disappear, but the next cycle isn't gonna be around for a while. The bear market has just started. The funny thing is I will NOT sell my coins and try to sit through just for the heck of it. How long it's gonna take? Months or years? That I don't know.
If you had followed my posts and cashed out on Jan 10th during ATH, you would have been in lot of profits.
Atleast you are understanding this market trend and not trying to argue like cryptomaniacs as this is just a correction.