Many will tell you it's just a "normal market correction," but let's cut through the noise - it's not that simple. 🧠
As I mentioned earlier, the crypto market is heavily influenced by big players (known as whales) who take advantage of news-driven catalysts. 🐋💸 The biggest catalyst in 2024? Trump winning the election.
Here's the scenario:
Whales were waiting for this very moment to pump Bitcoin prices and make huge profits.
Rich people like Elon Musk supported the Trump administration, knowing that promises about Bitcoin would serve their interests.
Through strategic pressure, financial firms facilitated the purchase of Bitcoin at the beginning of the year, creating an ideal setup.
📉 Now, the whales' exit plan:
Most of the big players are traders, not long-term investors. They entered the market around $70,000 and planned to exit between $105,000-$108,000, to lock in profits and trigger selling.
This has led to the current downward trend, leaving individual investors in a state of panic.
But here's my take: Don't panic. 💡
I am an investor, not a trader. I invest when I believe in the long-term potential of a project, not in short-term charts.
Bitcoin is the future - period. 🌍💎
🛑 What should you do?
If you are trading in the spot market, relax. If your liquidation price in the futures is less than $70,000, you are still safe.
Consider this a buying opportunity. Wait for the BTC price to stabilize, then consider reinvesting.
🔥 Also, watch out for altcoin season! Coins like ETH, XRP, DOT, TRX, and SOL could be game changers. If you need help with specific coins, leave a comment!
Note: Don't miss out on drop opportunities - check the pinned comment for more details.
💬 What is your strategy during this decline? Let me know!