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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 taken a drastic turn in the past 24 hours, with an astonishing $1.1 billion liquidation in the last day alone. This substantial amount of cryptocurrency being liquidated can only be attributed to one thing – panic selling.
The price of Bitcoin (BTC) has plummeted below the $100,000 mark, leaving investors worried about their crypto investments. According to recent tweets and statements from prominent analysts, this dip is a healthy correction phase in the market.
One such analyst, Rajat Soni, CFA, took to Twitter to share his insights on why the price of Bitcoin has fallen. He explained that panic selling was triggered by Federal Reserve Chairman Jerome Powell’s statement stating that the central bank cannot own Bitcoin. FUD (Fear, Uncertainty, and Doubt) took over, causing investors to rush for the exit.
However, this analyst warns against such a move, highlighting several sell traps that have been set up in the market. He emphasizes that this is an excellent opportunity to buy into the dip and ride the waves of the impending recovery.
While it’s challenging to predict the exact timing of this turnaround, experts agree that the market will eventually recover. This notion is reinforced by historical trends showing similar corrections being followed by significant gains.
As the crypto community grapples with this sudden downturn, investors are left wondering when they can expect a pump in Bitcoin prices again. In all likelihood, this correction phase is expected to subside soon, paving the way for another surge.
For now, it’s essential to stay informed and vigilant about market fluctuations. It’s crucial not to let emotions take over investment decisions as we navigate these unpredictable waters.
Stay tuned for further updates and insights on the cryptocurrency market.
Source: cryptonewsland.com
