When the market is bullish or even bearish, there will always be a correction because it is impossible for the price of Bitcoin to always rise during bullish times and also during bearish times to always fall.
Exactly. Correction is always needed whether it is in bullish or bearish. If there is no correction, there will be no chance to accumulate again Bitcoin at a cheaper price. Of course, it is impossible that the market will always keep increasing because there should be time for investors for selling their assets. Not all investors set their assets for a long term, some of them may take profits in a short term. When the investors sell their assets, there should be a correction because there will be too many supplies on the market.
Currently, the price of Bitcoin is experiencing a correction and the factor of long-term holders who are reportedly taking profits so that the price of Bitcoin is experiencing pressure but long-term holders will not sell all of their possessions because they know that the price of Bitcoin is still targeting higher prices this year
Yep. I heard that Fidelity and Grayscale decreased the number of their Bitcoin. Grayscale got loses around $579 million in Bitcoin ETF. This may lead them to not so confident anymore to increase the number of Bitcoin. Other big investors may also follow them because of the same problem related to Bitcoin ETF market. It looks like the hype of Bitcoin ETF news has over already.
At the end of this month, my prediction is that Bitcoin prices will reach $70,000, and next month there is a big chance that Bitcoin will reach the latest ATH, and $100k will likely be reached this year.
I'm not sure about this. I even heard the prediction that we may drop to $60k again. We are not in the condition that there is a trigger to pump the price back to $70k. I think this correction will last until the end of this month. Another rally or net pump may be in the next month.