The market may have finished its correction! Are you ready for BULLCEMBER?

In previous articles, we mentioned that the market often has strong corrections in the first or second week of the month, lasting from July until now, and it seems to still hold true this month, as most altcoins have dropped by 20-30%.

So, has the correction process been completed? In our opinion, the market correction is over and we can look forward to a growth phase starting today. Here are a few reasons:

1/ Bitcoin and altcoins have both risen sharply in a short time, so a significant correction will balance many factors such as market sentiment or cash flow. A 30% correction in altcoins is an average in the 2021 Bull Market, so applying this level at the current stage is appropriate.

2/ Exchanges have liquidated a large number of Long Positions, which has caused significant losses for traders who opened Long Positions, but it is beneficial for exchanges as they collect money from liquidations, reducing pressure on the exchange and they are also ready to push altcoin prices up after liquidating most traders.

3/ Three consecutive days have seen Long Wick Candlesticks. Experienced investors believe that Whales and Funds bought during the panic phase, somewhat manipulating prices causing a deep drop but still showing buying pressure. This makes investors fearful and sell off, while Market Makers continuously buy, leading to long-legged daily candles (Long Wick).

Yesterday, we wrote that it was a suitable time to buy altcoins. If you haven't bought altcoins yet, then today is not a bad time!