Quote from: adaseb on June 13, 2022, 03:50:29 AM

Well i guess I was wrong I figured it would trade sideways or at least make it to the low $30Ks however it broke the yearly low just now.

It seems with the massive CPI and the mess with Celcius network, many people are panicking and just exiting crypto all together. Many people think are recession is near so they want to cash out with what remaining money they have. Scary times are coming.

Now there is an active phase of washing out even the strongest hands. If we look at the holding chart of a losing supply of bitcoin, then it is now at its lowest point:

Many investors, including long-term ones, are starting to capitulate due to the unprofitability of their bitcoin portfolios. The challenge now for the market is to clean up as many bitcoins as possible from even the strongest hands before the deepest phase of the bear market is over. For me personally, as a long-term investor, this is a good opportunity to replenish my Bitcoin reserves, I have already made several purchases with an average price of $22,000.