No market ever heads straight up. There will be retracements along the way. In many ways, market corrections are healthy and useful. My only concern is that a lot of inexperienced people are now turning into day traders, thinking that they have the Midas Touch because everything seemed to go up forever.
Forex markets are extraordinarily volatile - if you open a retail brokerage account (in the fiat world), you usually have to pass an approval process (as in, you have to show a certain account size or a certain net worth) in order to trade forex (or other risky investments, like options). But that's not true with crypto - you can get started in 2 minutes with a few clicks. So that's the real risk, from my perspective. It makes it too easy to play with fire if you don't know what you're doing. Buyer beware (caveat emptor).