Uncertainty Is Back in the Bitcoin Market, but Here’s Why You Shouldn’t Panic.

BTC reserves on exchange platforms continue to fall.

A few days ago, I told you that the Bitcoin price was due for a legitimate correction after a nice two-week period of +27% rise in late March 2022. I also told you that the price could go towards $41K, and that this was normal because the price of Bitcoin never goes up linearly.

Everything always moves in successive waves: up and down.

Even when the market falls, you rarely have a straight line. You may have impressive crashes when the market undergoes a leverage flush like in early December 2021, or when panic takes over the world like in March 2020, but these situations are exceptional.

The rest of the time you will have a non-linear progression of the Bitcoin price. You have to take this into account.

Finally, the correction I predicted was even stronger, as the price of Bitcoin fell back below $40K before bouncing back a little above $39K. Uncertainty is once again dominating the market, and many are wondering if it is time to panic. If you look at the prevailing sentiment, the answer seems to be yes for the majority:

In my opinion, there is no need to panic, and I will explain why in the following.