The market rose slightly yesterday, providing some temporary relief; however, the parameters or indicators that it may fall further remain, and if you pay close attention, you will notice that this type of back and forth movement has been occurring for more than two weeks.
However, I do not believe this is entirely bad. Prices rising only to fall again may be frustrating, but it is preferable to having only downward movements; it provides the illusion of hope that allows people to remain calm.
Trust me, calmness in a bearish market is a virtue.
It is difficult to remain calm, but once you do, it is a virtue that protects you from making rash decisions. So, basically, I do not think the dip has ended. BTC may test 52k, and it is unlikely that it will reach 60k in the next two weeks; however, we all know what this means for altcoins. However, the fact that it recovers after inciting a massive storm of fear is critical for people to keep their sanity.
Little Recoveries, Good Remission
Let us look at it this way. I have relied heavily on blood and urine tests to determine how well or stable my condition is. Typically, I use blood and urine tests to determine how well the medications I am taking are working. Now, this does not imply that the underlying conditions have been eliminated or cured; rather, it means that I have achieved partial remission, which allows me to live a normal life without complications from these conditions.
When managing a chronic condition, the goal is to ensure that the patient is stable rather than seeing a decline in their test results.
The crypto market is currently the same.
The dip is chronic; it has been present since April, following the halving. Many analysts believed that the BTC spot ETF would signal massive gains for cryptocurrency; they were not wrong, but they were incorrect about the immediate and chronic corrections that have been occurring for more than three months. Price fluctuations elicit emotional responses from people.
A Floating kite, A Falling Knife
When things are going well, people believe that they will never be bad again, and when things are bad, they believe they will never be good again. When it comes to money, emotions are involved. Many people cannot afford to lose their cryptocurrency investments; they will be ruined, and just knowing this can cause depression.
It is also true that when people make massive gains, they are on top of the world, but instead of taking profits and planning for the bear market, they don't, and they end up squandering their opportunities.
It is ingrained in our DNA; sad and happy times cause us to make mistakes in the opposite direction, and it is often difficult to cultivate the discipline required to do what is right.
Chronically Bearish
As I previously stated, the market's condition is chronic, and these small recoveries following a massive dip indicate that we are still primed for a bull market when the time comes. What do I mean when I say that history remains on our side? The market is still on track, and there is no reason to be concerned about whether it will remain so until 2029.
These events are expected to occur. Nothing has changed in crypto, not the evolution, but the way the market cycle occurs. The only difference is the spot BTC ETF and increased government involvement in crypto. However, I do not believe these events will change the pattern of the market cycle, at least not right now.
Take comfort in the small recoveries here and there, because the market is still chronic, but we will hit several remissions along the way to the peak of the market in 2025.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
