Why did Bitcoin plummet? Can BTC still reach $100,000 in 2024?
The market conditions in the past two days have indeed exceeded many people's expectations. Under more extreme market conditions, technical indicators seem to be temporarily invalid. In the past week, BTC has directly fallen from about $64,000 to about $54,000, a drop of about 16%, which is also relatively rare.
Moreover, according to the Fear and Greed Index, the current value of the Fear and Greed Index is 26. It seems that the market conditions in the past two days have indeed caused panic among many people.
But when others start to suffer losses and choose to give up, it means that you should consider entering the market. If you still believe that this round of bull market is still there, then the 47,000-56,000 range may be the last entry opportunity for you in this cycle.
In short, from the overall situation, this volatility may continue until the end of the third quarter of this year, and the market may usher in a new direction in September and October. Therefore, patience is the key, continue to ignore short-term fluctuations, and learn to make friends with cycles.
