In the past few days, after Bitcoin’s price surged to over 107K, we observed a price drop. This raises the question of whether we are witnessing the end of Bitcoin’s bullish trend. I believe this is not the case, and Bitcoin will continue its upward trend after this correction. One of the reasons for this is monitoring the behavior of old whales. As happened in the previous cycle, at the ATH of the new cycle, we should expect to see Bitcoin inflow into exchanges from old whales and the selling of their Bitcoins. This is something that has not yet occurred in the market. Therefore, my belief is that the recent decline is not an indication of the end of Bitcoin’s bullish trend.
Written by CryptoOnchain
