The fall of Bitcoin began at the end of 2021 and continues to this day. Experts talk about the onset of crypto winter, but at the same time, many are sure that today it is possible to replenish their crypto wallets.
From the point of view of technical analysis, a further fall of Bitcoin is also possible. The cryptocurrency has been falling for a year now: on November 7, 2021, the price of BTC reached its last peak ($65,125) and has been steadily declining since then, making short stops, and then breaking through the level again and going lower. During stops, the price moves in a small range for several months, and the longer this stop, the stronger the fall. For example, from mid-June until recently, this movement has been observed in a relatively narrow range of $19,000-20,000. During this time, the price of Bitcoin fell to a local minimum ($15.9 thousand) and rose again (to $24.5 thousand). Often Bitcoin falls just before the next rise.
Now many people say that the onset of the crypto winter was inevitable, but no one could have foreseen its current scale. But any market is cyclical, and the cryptocurrency market is no exception in this sense. It works according to the same laws as the financial one-ups and downs are replaced by downs. For example, for the period 2016-2020, cryptocurrencies have come full circle. In 2016, there was a decline in the exchange rate, in 2017 – active growth, and from 2018 to mid-2019 – a crypto winter. The current situation looks similar: recession, recovery, growth, and again decline to the highs. Based on the theory of cycles, it is possible to predict a period of crypto winter with the current price level until about the summer of 2023 to take off again.
Why does Bitcoin always fall before a new growth phase? This is the classic behavior of a highly volatile and risky asset like a cryptocurrency. Global world processes influence investors’ behavior and the crowd’s mood, which most often dictates the behavior of an asset. In simple words, the news background makes the crowd sell when “whales” and funds actively buy it at favorable prices, which is a growth platform, to then sell the asset at higher levels, or accumulate to future new highs.
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Disclaimer: This is a paid post and should not be treated as news/advice.
Source: https://ambcrypto.com/qubithashes-makes-crypto-accessible-to-everyone/