Quote from: Richbased on January 21, 2024, 01:04:15 AM

Quote from: EluguHcman on December 25, 2023, 12:54:28 AM

As a short-term goal Bitcoin Investor whose eyes has been on the Bitcoin market and has accumulated as much Bitcoin while expecting the bull-run markets to come and skyrockets so you can sell you Coins at a profitable higher price, and then you wake up lately maybe at night or sometimes in the morning and learns that Bitcoins value rate (Price) hitted the market even times 3 of what you expected for example, you awaits the market to hit $65K and then it hits $165K just at your slightest mistake of given the markets charts monitoring maybe few minutes or an hour break and then it depreciated unimpressively against your will probably even below your hodling value at your notice, how would you feel at it?

Well actually, something of this nature occurred during when spot Bitcoin ETFs were approved by United States SEC because after the approval, the price of Bitcoin skyrocket to $48,000 but after some time is starts dipping even till now the price hasn't gain stability though it is believed that due to fluctuations in market prices that it's price can't be stable but however, anyone who has been into Bitcoin for some years now must have understood the activities of bitcoins as sometimes it skyrockets to a very high price and after some interval it still gonna decrease but that shouldn't cause any panic at all as there are times when the price goes up and never returns to it's initial price anymore.

Once we gain more experience we can get to understand the movements of the market more clearly, to me it is obvious that what happened is that once the bitcoin ETF was approved, those that were waiting for the news jumped into the market and bought bitcoin, so this caused a spike, however those that knew what was going on knew the approval of a bitcoin ETF was imminent, and so they had bought bitcoin during the previous months, and so when they saw that spike they sold their coins, got their profits and this caused the price of bitcoin to drop to its current levels.