Since Bitcoin rose to 40,000, various indicators have been continuously diverging. Short sellers who follow technical indicators have been trapped, stopped, and liquidated since 30,000 dollars to the recent 73,700 dollars.
Heng has emphasized this not once or twice. We should consider technology, but we should also consider the encryption cycle and fundamentals beyond technology.
Supply and demand are the decisive factors that determine price trends.
There was the passage of the US Bitcoin ETF, the catalyst of the Bitcoin halving bull, and the large-scale wars between Russia and Ukraine, Israel and Palestine, which brought the world to the brink of the Third World War. The price of safe-haven asset gold continued to rise, and the price remained high, which played a role in pushing up the price of Bitcoin, which has the reputation of digital gold.
When analyzing price trends, technology must be useful, but it is by no means all.
Again, you can look at short-term pullbacks, but it is never recommended to be bearish on the entire halving bull cycle.
Once the time is ripe, Heng will be more bearish on the market than these people, but we are obviously still too early for this stage.
