The current pullback in the cryptocurrency market is merely a "breather for the bull market" rather than the "end of the bull market".
In December 2020, Bitcoin dropped by 12% after a significant rise, but in the following 23 days, it surged by 136%. The current decline of about 13% follows a similarly strong performance in the fourth quarter.
At present, Bitcoin could further retract by 10-15%, but it is emphasized that Bitcoin and the broader cryptocurrency market still have sufficient momentum.
Additionally, industry insiders believe that adjustments during the price discovery phase are both common and necessary, typically lasting several weeks, and bull market cycles usually experience up to four such adjustments.
