BTC has indeed improved recently, and many people may think it's a Bear Market, but I believe the market has not yet ended. Here, I would like to share my personal opinion.
Everyone knows how volatile bear markets can be. Currently, Bitcoin is still in a pullback phase of the bull market. The typical retracement in a bull market is around 38%. Based on Bitcoin's highest price of 109,600, a 38% pullback would be around 79,000, which is considered a normal retracement. Although it dipped below 79,000 twice during this period, it quickly recovered both times, indicating that major institutions are supporting the market at this level, as retail investors definitely cannot move the market. The main players are accumulating positions near this level, so what are we afraid of? Let's also accumulate. Bitcoin has never cut anyone off; the only one who can cut you off is yourself. #特朗普数字资产峰会发言
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BTC has indeed improved recently, and many people may think it's a Bear Market, but I believe the market has not yet ended. Here, I would like to share my personal opinion.
Everyone knows how volatile bear markets can be. Currently, Bitcoin is still in a pullback phase of the bull market. The typical retracement in a bull market is around 38%. Based on Bitcoin's highest price of 109,600, a 38% pullback would be around 79,000, which is considered a normal retracement. Although it dipped below 79,000 twice during this period, it quickly recovered both times, indicating that major institutions are supporting the market at this level, as retail investors definitely cannot move the market. The main players are accumulating positions near this level, so what are we afraid of? Let's also accumulate. Bitcoin has never cut anyone off; the only one who can cut you off is yourself. #特朗普数字资产峰会发言