Market is down, why is there so much optimism?
A lot of you expected some kind of bounce at 570 (few days ago), then 550 (1 day ago), and now 525(today). It is difficult to pick a bottom. One of my analogy for this is: you are blind folded and you need to grab a baseball bat. What are the chances that you will grab the end of it on each try? Not likely.
My point being:
The trend is down. If you are a long term holder, you have nothing to worry about because you bought bitcoin on fundamental reasons and they haven't changed since 5 days ago. However, I see too many people with too much optimism about a new rally incoming, a new leaf, a new paradigm, or dip before the bubble type of comments.
For speculators, all trades come with risk, the risk of being wrong. You know what is worse than being wrong? Staying wrong. Market is down, take it as it is. Put your emotions aside and objectively analyze what the market is telling you.