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Recently, the cryptocurrency market has gradually settled down following the extensive liquidations witnessed in recent weeks. Ki Young Ju, the founder of CryptoQuant, informed over 408,400 followers on the X platform that those engaging in panic selling at this moment may lack experience.
Bitcoin Retracements Are Typical
To bolster his claim, this prominent analyst highlighted that a 30% correction is quite usual during Bitcoin’s bullish market phases. He observed that in the bullish market of 2021, this leading cryptocurrency faced a 53% decline but eventually rebounded to reach its all-time high (ATH).
The chart he provided demonstrates how Bitcoin’s value consistently experiences retracements during significant market cycles, including those of 2017 and 2020. Generally, after price discovery, the asset will naturally pull back. Nonetheless, he stressed that this does not signify the conclusion of the bullish market phase.
If you are currently engaging in panic selling, you might be lacking experience.
A 30% correction is typical in Bitcoin’s bullish market phases—it dropped 53% in 2021 but still made its way back to its all-time high.
Purchasing during price surges and selling during downturns is the least effective investment strategy. Formulate a clear investment strategy. pic.twitter.
In a recent update, leading analyst Ji Yongzhu expressed the opinion that the market might still face considerable fluctuations, yet the bull market phase remains unbroken.
Ji Yongzhu suggests that purchasing any cryptocurrency during price increases and liquidating during price drops is among the least effective investment tactics one could pursue. He recommends that cryptocurrency traders establish a well-defined investment strategy, which other experts emphasize should help them avoid losses. BlackRock Restarts Bitcoin (BTC) Purchases, Puts in $25 Million
**Present Condition of Bitcoin and Altcoins**
Persistent macroeconomic instability continues to exert pressure on Bitcoin, while the trade conflict in North America presents challenges for risk assets.
As of this writing, Bitcoin’s value has decreased by 2.9% over the past 24 hours, now standing at $85,984.77. In the last week, the cryptocurrency has declined by 11.63%, marking the most challenging February in 11 years.
With its significant market share, altcoins are also exhibiting similar downward trends as Bitcoin. Ethereum has seen a reduction of 4.6% in the last 24 hours, now priced at $2,349.72, XRP has dropped by 3.66% to $2.205, and Solana has decreased by 0.67% to $139.40.
As the Crypto Fear and Greed Index reflects extreme anxiety, there may be occasional capital shifts in the near term.
