It is normal for the Bitcoin market to go down and pump again because Bitcoin is a volatile asset.
Now, no one can guarantee what the market sentiment will be in the coming days, but if we have experience from the past days or check the records, then every time this kind of bear trap has happened in the bull season. And after many people liquidated a huge amount, the market became bullish again.
We have seen $1.4 Billion liquidated from the market in the last 24 hours. And this kind of panic situation has not been seen since the Covid Crash in 2020. And in this situation, not only our crypto space is alone, but also Stocks and Commodities.
So is this the Bull trap or really or the start of bear? What does your personal judgment and analysis says about this?
I haven't got a crystal ball to see which way the BTC price winds are blowing tomorrow, that's for sure! And my main focus - my own sweet dollars. Babysitting someone else's portfolio isn't exactly my idea of a good time!
Now, let's say the market pulls a rabbit out of its hat and bounces back big time, sending the BTC price soaring to 100K dollars. Holders will be grinning all the way to the bank, while those who panicked and sold will be kicking themselves.
On the flip side, if the market decides to take a nosedive and the BTC price crashes to 40K dollars, those smart cookies who sold at 80K will be doing a happy dance, having locked in their profits. Meanwhile, the holders will be feeling the pinch and wishing they'd cashed out earlier. Ouch!
So, investors have got to pick their poison, one of these two scenarios to play. And trust me, neither choice is a walk in the park! Even Strategy seems to be sitting on the sidelines, they've actually paused their BTC accumulation with the price dropping.