$PEPE $BTC Bull market is done, $BTC has shown bearish sign and will go downward spiral for another 2 years following the institution selloff.
Nah Just KIDDING.
Bull market isn't over yet!
As a matter of fact, it's a chance to dca more Bitcoin (and good alts aswell $HBAR $KDA ) into your portfolio!
What we now experience is a pullback, a retracement of the market.
A pullback is a temporary decline in the price after a period of growth. Pullback is sign of a healthy market, why? Because somebody needs to secure those profit first.
What's the fundamental behind a pullback?
You see, market is full of many kinds of people. Holder, Trader, Gambler, etc. Now they enter into the market to make MONEY. So, they dive into the market to try their luck.
Example, Trader A buys BTC at 30k followed by Trader B at 50k, Trader C at 69k, and lastly Trader D that missed the rally. Let's say BTC price already went up till 73k.
Trader A (HODLER) has made 133% of profit and wants to liquidate his position to realize his profit. He sold a substantial amount of BTC and push the price down to 71k.
Trader B (HODLER) saw the price action and thinks the market can't go up even further, so he also liquidates his position, pushing the price down even more, to 69k.
Now Trader C saw that BTC price is going against him, so he sold in panic, pushing BTC down again to 67k.
You see, Trader D really wants to enter the game, he needs to call his position afterall. He analyzes that BTC fair value is at 90k. He checked his monitor again, "WHAT 67k???" so he bought at 67k in a huge amount. Price goes back up to 70, the gambler saw this aswell and start fomoing, therefore the bull market continues...
Now assume those traders are a group of people all around the world.
Don't panic guys, we haven't met the halving yet!!!
Good luck!!!
