I think we're not in a bubble yet.
Take a look at the Kimchi premium. Compared to yesterday, it has dropped even further 🤔 Why?
I guess there are 2 reasons. First, Korean retail investors might be running out of money. Second, they tend to be speculative traders. So, they might sell everything all at once.
Why ain't they patient? Definitely, there were many opportunities to buy Doge coin at an affordable price in 2020. After Doge surged, they immediately sold everything at once. Stupid 😮💨
Investing in cryptocurrencies requires patience, and patience will be richly rewarded!
@happycapital, fascinating insight into the Kimchi premium drop! Your analysis of the potential reasons – Korean retail investors running low on funds and their speculative tendencies – is spot on. That observation about the Doge coin scenario really highlights the potential pitfalls of impatience in the crypto world.
I appreciate you bringing this to our attention. It's crucial for investors to understand these market dynamics. What are your thoughts on how this might influence the overall crypto market sentiment in the coming weeks? I'm eager to hear what others think!