The first one, of course, was when the SEC had to approve the Bitcoin ETF, and the second one was when the pro-crypto Trump administration was elected. However, the Trump administration hasn’t done anything yet, so I think that’s why we are in this massive holding pattern. As things stand right now, most Bitcoin traders I know are just simply accumulating on the dips, building up a position, and then once it takes off, it takes off. It’s a longer term investment.
That being said, if we were to break down below the $88,000 level, I think we could drop all the way down to the $75,000 level, but I wouldn’t be too worried about it. I think there should be plenty of market memory in that area for buyers to come in and try to take advantage of cheap coins.
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