We've seen the market in green for months now and for the first time, we're seeing a dip that feels like the type you'll normally see in a bear market. For three to four days we're still dipping and I'm not surprised. BTC tipping its previous ATH before the halving is not something we're used to and this would generally mean that we're going to see erratic happenings in the market that would seem entirely bizarre.
I think we've gotten used to these green candles for a while and we've forgotten that the market is still in ascension and not "there" yet. Look okay the emphasis on "there". This means hitting those price points that are worthy of profit-taking. At this price, crypto is not even half-ripe for profit-taking. Maybe some meme coins, or other fringe coins out there, but mainstream crypto is still consolidating.
BTC might have made it seem like we're finally there, but the altcoins are a reminder that we're still trying to get there. The funny thing about the bull market is that it doesn't just blow up good projects. It carries even terrible projects without substance along. It blows up even shitty meme coins, and when we get to this position, this is when the bull market proper is now established.
For now, only BTC is doing all the magic, and this is atypical of a bull market. This only means that we're nowhere near what we saw in 2021. Where Blockchain games like Anxie Infinity and Splinterlands made millionaires out of players. So basically, the market is still fragile, no price is certain and there's always a susceptibility for correction at all times.
The one we're correcting seeing only proves that there's still a lot of time to go shopping. BTC's correction took the alts crashing down with it, and this is typical of the market in the earliest stages of any bull market. However, it's not a time to panic. This correction is not only healthy it actually gives redemptive chances to people who are actually thinking that it's now too late to ape in.
I decided myself to go into the market and buy some Hive and this dip unintentionally presented an opportunity.
It's not anything grand, but sometimes, we often underestimate little buying opportunities and this is because we feel that they might not really matter, but the truth is that every buying opportunity manifests its usefulness when it's time to make profit. So we might still see 60k BTC down from that 73k we saw: maybe, maybe not. However, these things are not uncommon in the bull market. The thing is that BTC has shown the directions the Market by be heading in 12 to months and this is still a very long time to go shopping.
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Spot on. I think a 60k BTC is very possible, especially considering the fact that we just broke the uptrend we've been riding for the past few months. It also appears that dynamic resistance has turned into support at this point, so it's very likely we might even see BTC lower than the 60k.
I hope we don't see it lower than 60k it's probably going to send another panic. But overall we're in a good place. Hopefully the alts won't go down further.
The way ot looks, it seems like we're all getting a reality check that the market is still a work in progress, not quite ripe for profit-taking yet.
It's truly a work in progress. No consolidations yet and a lot is definitely still going to happen. It's only the beginning
I agree that it's a great buying opportunity! If people can't handle rapid climbs and drops crypto isn't for them. It's part of the excitement and fun. In a bull market thing don't always go up, you have corrections and limit tests. It's all part of the experience!
I think you made a great buy, I'm going to get some more liquid Hive too!
True, there's always corrections here and there and this is typical of the market. I still think there's a great opportunity to buy at the moment. I have a gut feeling that after the first quarter of this year it might just be too expensive to ape in.
You should, thank you.
I also heard from someone that there is always a little dip before halving
Is that true?
Well it might be true, the halving is about one month away.
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Thank you
BTC has survived for 15 years already all the ups and downs of the market and stays strong in the long run
Everyone knows this, no one feels negative in a bull run some I'm sure everyone knows that the bull run is inevitable
It went to 8.9 k a few hours ago! Check out my latest article.
What went to?
BTC...You didn't know? See here: https://ecency.com/hive-167922/@zpek/btc-to-89k-bitmex-investigates-massive-bitcoin-selloff-today
Oh I see.
I think btc might follow this pattern
This makes a lot of sense and it's a good reminder that we've not reached "there" yet but only had a glimpse of what things may look like in the future. Corrections are definitely good buying opportunities, especially when one is quite sure that it's only temporarily.
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Well BTC did move up quite a bit. If we just scroll out a bit, BTC is up quite a bit and I wouldn't be surprised to see things just go sideways or down until the halving. A lot of people got into the FOMO when BTC pumped so there are probably quite a few people who took profit and reloading.
🥰 Hopefully clinging on to my hive as I do not have much to contest for in Bitcoin