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$1.1 Billion Liquidated From Crypto Market, Why is Bitcoin Price Crashing and When Will BTC Pump Again?
The crypto market has seen a dramatic dip in the past 24 hours, with a staggering $1.1 billion liquidated from the market. This massive correction has left many investors worried about the future of their investments.
Bitcoin price continues to plummet, dropping below $100,000, leaving traders scrambling for answers. The reason behind this drastic fall is attributed to FED Chairman Jerome Powell’s statement that the central bank is not allowed to own Bitcoin. The market reacted negatively to this news, resulting in a massive sell-off.
However, experts are quick to point out that this dip is merely a correction phase, and Bitcoin is far from being over. According to Rajat Soni, CFA, the current market volatility is a classic example of the “bearish trap” many traders fall prey to. He emphasizes that those who panic sell will regret their decision in the long run.
Despite the current turmoil, the analyst remains optimistic about the future of Bitcoin and the crypto market as a whole. According to Soni, it’s essential for investors to stay calm and patient, as history has shown us that these dips often lead to significant growth opportunities.
But when can we expect this pump to happen? In an exclusive interview with CryptoNewsLand, Rajat Soni revealed his forecast for the coming months. He believes that the market will continue to be volatile in the short term but expects a strong rebound by mid-2025.
While no one can predict the future with certainty, experts agree that it’s crucial for investors to educate themselves on market trends and avoid making impulsive decisions during times of uncertainty. With this correction out of the way, Bitcoin may finally find its footing and make a comeback.
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Source: cryptonewsland.com
