After 300 days, BTC drops below 8 figures!

How many more are out on the rooftops bragging?

Honestly, it's quite sad. The market is roaring again. As of now, longs have been liquidated for $2.4 billion. Although expected, it’s still hard to accept when it actually happens. In two weeks, the price dropped from 9700 to 7500, a plunge of 20,000 points. This time is different from the black swan on 10.11; that was an unexpected event. This time, the lack of confidence due to no rate cuts has led major players to exit one after another. Who knows when we will see the 120K Bitcoin again!

We also discussed on Friday that if it breaks below 8060, it will directly head towards 7500. The market gave two rebound levels at 8340-8450 to wait and see. As expected, the market plummeted, breaking below 8000 and accelerating down to 7500. Is a drop of tens of thousands of points considered bold?

Human joys and sorrows are not connected; some rejoice while others worry. The market is always cruel. The logic of market movement is Power-Time-Volume, all three are indispensable. Without enough understanding, how can one laugh last just by a sudden impulse? $BTC #加密市场回调