Article reprinted from: Felix
Author: @0xChainMind, Crypto KOL
Translated by: Felix, PANews
CZ predicted the recent crash as early as 2020, in addition, Federal Reserve Chairman Powell stated that the Fed cannot hold Bitcoin, and Trump's government reserve plan was hindered. The current market conditions may be unclear to many; what is the 'truth' behind the current market decline?
The past two days have been a nightmare for all cryptocurrency investors, with Bitcoin dropping about 15%, collapsing the entire crypto market. Market sentiment quickly shifted from 'the bull market has come' to 'the bull market is over'. But few know that this may be part of the government's plan to 'drive away' all the indecisive holders from the market.
After Powell's speech, the market began to show slight corrections, and Powell stated that the pace of fighting inflation has slowed.
These words imply that they do not intend to lower interest rates. It is well known that low interest rates are key driving factors behind bull markets.
Inflation information has also been released, below everyone's expectations. As a result, the probability of a rate hike in March rose to 46.9%. But there seems to be something wrong.
This macroeconomic negative factor seems to be the only reason for the decline.
During the decline, Trump's campaign team was actively hoarding assets. In just two days, they purchased over $70 million worth of ETH, WBTC, and other altcoins.
This inevitably raises thoughts of potential market manipulation.
The market is overheated, and it is clear that the government has decided to cool it down.
This is beneficial for both the market and the government. Because hoarding Bitcoin at lower prices is much easier.
If you think the beginning of this article is just to attract readers, you are mistaken.
As early as 2020, CZ stated in a tweet: waiting for new headlines: #Bitcoin 'plummeted' from $101,000 to $85,000.
Now CZ has issued another statement: "Waiting for new headlines: #Bitcoin hits a new all-time high again."
This tweet clearly reflects CZ's optimistic sentiment and shows a clear understanding of what is happening.
After CZ's tweet, the only other thought the author had was that the price might also pull back to $85,000. That is why it is important to trade cautiously now to avoid taking unnecessary risks.
However, as shown in the chart below of the long-short ratio, this price level may be quickly bought up.
Considering all the information, this decline is clearly just a routine fluctuation. This is necessary for the market because when everyone is just holding, the market cannot continue to rise; a new wave of buying is needed right now.
As mentioned earlier, it is advised not to engage in blind trading at this moment. This is an unnecessary risk, especially if you already hold a position. The only thing you can consider is cautiously buying Bitcoin in the range of $85,000 to $87,000.
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