The Market Continues Its Accumulation Phase - What’s Next for Bitcoin Price?
The Bull Market is not over. Patience is the key during this market phase.
No market phase in the Bitcoin world lasts forever. As I explained to you in mid-November 2021, you'll have to learn how to react to these different phases in the right way, as they follow each other at their own pace.
Excitement, Boredom, and Fear are the three phases that recur all the time.
Until the ATH of the Bitcoin price at $69K on November 10, 2021, it was excitement that predominated. This translated into an increasingly heightened sense of FOMO. And then that feeling gave way to fear as the Bitcoin price then began to correct before crashing by more than 30% following the leverage shakeout on the night of December 3 to 4, 2021.
For those of you who want to understand what produces this type of hyper-volatile movement, I invite you to read the article “Bitcoin Leverage Trading 101” that I just published:
Fear is finally giving way to boredom. Slowly of course, but that's where we're headed in the days to come:
This feeling of boredom is of course related to the sideways movement of the Bitcoin price that we have been witnessing for the past week. The price of Bitcoin has been moving between $47k and $52K since the leveraged shakeout in early December 2021: