The current market still maintains a bullish trend. There was a minor incident in South Korea yesterday, but we won't discuss any banned words in this article. Those who watched the market last night know what happened. To put it simply, it was just a small episode. At this stage, the market's downward adjustment is beneficial for preparing to reach higher peak trends in the future and clearing up market leverage.
In any case, South Korea's cryptocurrency trading market accounts for a significant share, which has led to the overall market decline. However, if we look at this adjustment as a temporary dip, on one hand, it is the behavior of arbitrageurs, and on the other hand, it is a one-sided decline causing market panic. This drop triggered by news is not due to the demand of the overall market itself. After clarifying the reasons yesterday, I immediately reminded everyone that there is no need to panic about this drop; the bullish trend is still intact.
Currently, the overall market seems to have entered the altcoin trend, with a daily increase of 20-30 points already quite common. This is definitely a precursor to a bull market. Such frenzied trends often accumulate risks. If the mainstream increase of Bitcoin is not a concern, then the chaotic rise of altcoins is a signal of risk. It is necessary to gradually reduce positions at high points. I have mentioned many times that currently, we only reduce positions in short-term trading and only increase in long-term trading (unless it doubles).
