- Bitcoin price continues to fall dramatically.
- Analyst goes on to explain the ongoing trap for traders who are selling.
- He concludes with an encouraging note to hold as the market prepares to reverse.
Crypto market sees $1,100,000,000 liquidated in the last 24 hours as the brutal market dip leads to a massive market correction. This dip has shaken paper hands who panic sell whilst further fortifying diamond hands into holding stronger or accumulating more crypto while BTC price has dropped below $100,000.
Why is the Crypto Market Crashing?
While many see this crypto market dip as an opportunity to accumulate and buy more crypto assets, others fear the end of the bull run. However, seasoned analysts see the dip for what it is, another healthy correction phase. One analyst shares a detailed video over why the price of Bitcoin fell from $108,000 to $96,000.
As we can see from the video in the post above, this analyst explains that the biggest reason behind the dip was FED Chairman, Jerome Powell, saying that the FED is not allowed to own Bitcoin. He says people saw this as bearish news and panic sold their BTC due to FUD and expectations of Bitcoin having no future.
The US Adopting BTC Will Pump the Crypto Market
The analyst goes on to say that this is farther from the truth and breaks down the many sell traps for Bitcoin (BTC). One of the biggest factors the analyst highlights is how countries are strategically buying Bitcoin and that the US will have to catch up soon. He concludes that it is highly likely that the US will soon set a Strategic Bitcoin Reserve so it won’t lose the crypto race.
Ultimately, the video shows that Bitcoin is heading towards much higher highs and corrections are a natural state of any bull market. He says that economies will fluctuate and Bitcoin could be a strong asset for those who have a long-term view. This is something similar to US Senator’s Cynthia Lummis’ plan for Bitcoin and the US.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
