Why did Bitcoin plummet? Can BTC still reach $100,000 in 2024?
The recent market conditions have exceeded many people's expectations, and technical indicators seem to be temporarily ineffective in this extreme market environment. In the past week, Bitcoin (BTC) fell directly from about $64,000 to about $54,000, a drop of about 16%, which is relatively rare.
In addition, the current value of the Fear and Greed Index is 26, showing that the market is in a state of panic. Nevertheless, when others choose to give up because of losses, it is time for you to consider entering the market. If you still believe in the existence of this round of bull market, the $47,000-56,000 range may be the last opportunity to enter the market in this cycle.
Summary
Overall, 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 be friends with market cycles.
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