Unexpected correction from Bitcoin in the past hours Despite the positive news that prevailed in the market in the past period, we are used to the fact that Bitcoin and cryptocurrencies cannot be predicted to a large extent, and sometimes the euphoria that strikes the market is a prelude to correction, and sometimes the correction is in preparation for a major launch.
The price of Bitcoin fell to below $ 100,000 for the first time in a long time, especially after Trump assumed the presidency and issued many decisions that would increase the state of optimism in the market, but it seems that some whales found that the current price is a good opportunity to sell, as no one knows exactly the main reason that led to this decline.
Of course, the decline in Bitcoin must be followed by a decline in Altcoins as well, which continued to bleed by a percentage ranging from 6% to 12%, and this was inevitable, as we were seeing large correction waves from time to time in the cryptocurrency market, but since Bitcoin rose significantly from 60,000 to 100,000 in a short time, we had to see after the correction, which we do not know where it is heading.
In fact, we cannot call this a correction wave because a drop of a few thousand or 6% or even 10% is not a major correction wave, especially for those who have seen a drop of up to 50% in the past. Therefore, we are in a state of anticipation to where the price can reach, especially since we are still in the first day. To follow the major correction, we must at least look at the weekly range. Indeed, Bitcoin quickly returned to rise to reach 102 thousand again.
This drop is a good opportunity to buy, and this is what some traders took advantage of when Bitcoin fell below $100 thousand and then rose again due to purchases. As I mentioned in my previous post, the fear of investing has become much less than it was in the past. I also say that even with this drop, if it continues to 90 thousand, I believe that it is still a good opportunity to buy and invest, as some people look at it from a positive side, as it is an opportunity to trade and buy more cryptocurrencies. A good trader must have a portfolio containing cryptocurrencies and also USDT so that he can seize such opportunities and buy.
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