$BTC You have to understand the psychology of the market makers to understand why this drop is happening.
The market makers knows that there are two -if not more- types of traders existing in the market at the moment.
The one who bought BTC 2 years ago at the price of 69,000$ and still holds his bag from two years.
The second type are the wave surfers, the ones who just buy when they see the market pumping uncontrollably.
The market makers needs to abuse these two types,
How?
By causing a drop, stirring the pot.
Why?
To force type 1 and 2 to sell their bags or risk loosing their profits, so when the market makers start shifting the market upward again, now BTC is worth more to buy, and type 1,2 will have to buy it again but this time at a premium (expensive) price.. so when the major drop happens later, they are stuck for another 2 or 3 years (cycle)
Look to it as musical chair game, but this game, the market makers know when the music will stop playing.
How can we be sure?
Well, by following two criteria.
#First , the market will not go back to the point where it started, "When this pump started on 5th of november" that day, BTC price was 67,481$ so we should never see BTC reach there.
#Second , By monitoring the correlation between BTC and Alts.. We should notice that BTC dropping more than Alts are.
As of the time this post is being written, BTC has lost 7.99% of it's ATH value over the course of 5 days, While most coins lost from 15-20%, this indicates that the drop will continue, but as the gap closes in and the % lessen, we should see a reversal towards the ultimate goal of 100,000 -110,000 $ Area.
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