We tried to warn everyone on this price correction. First, with 'Can you become rich with crypto?' (here: https://www.publish0x.com/the-other-side/can-you-become-rich-with-crypto-xxomdlr), then with 'Why we are holding over 40% in USDC' (https://www.publish0x.com/the-other-side/portfolio-update-why-we-are-holding-over-40-percent-in-usdc-xolxygn), and finally with 'Greed is good, only not for you' (here: https://www.publish0x.com/the-other-side/greed-is-good-only-not-for-you-xkkmzky).

Besides technical analysis, it was easy for a trader to see the signs. A sharp take-off, with hugely more volume on price corrections, than price increases, tiny volume in each trade, and most importantly articles claiming about insane price quotes for Bitcoin, like $100,000 per Bitcoin, $400,000 per Bitcoin, or even $600,000 per Bitcoin. Such articles come from vulture funds, and have a single purpose: separate even the poorest - and naïve/inexperienced - soul from their hard-earned dollars.

Why on Earth would anyone really believe this rally would go on for ever?

The billion dollar question is now, where we stop. Nobody can really tell. In such an unpredictable bear market, any over-reaction is possible. $16,000 is a first weak resistance. A much stronger resistance is at about $12,000.

Ethereum is walking the same unpredictable path. A weak resistance point is at around $480, and a stronger one at $360.