The day that has just passed is very scary, and BTC has fallen by $10,000 a day.
Of course, the global bulk market also fell at the same time. Commodities such as gold, silver and COMEX copper also plummeted. The major indexes of China’s A-shares closed collectively lower, and the US stock index futures all fell during the Asian session.
BTC has fallen by US$10,000 a day, which is hard to imagine in the past, but now it is a 30% drop. It can only be said that Bitcoin is getting more and more expensive, and there is more and more room to fall.
Bitcoin has fallen so much, is the bull market over?
The bull market often plummets, and you can take the chips in your hand, don’t hand it out in the plummet. Without the chips, then the bull market really has nothing to do with you.
1. The bull market often plummets, and you must bear the toss
If it rises too much, it will fall; if it falls too much, it will rise. This feels a bit like making noodles, adding more water to noodles, adding more water to noodles.
A bull market is an upward trend, not a constant rise and no fall. Looking back at the last round of bull market, there were a lot of plunges. Jiang Zhuoer compiled a table of plunges from the previous round of bull market, as shown in the figure below.
In other words, in the last bull market, BTC crashed 6 times. Judging from the 6 crashes in statistics, the biggest drop was 45%, and there were 2 crashes with an average drop of 40%. At the same time, I also noticed that the decline did not exceed 30% and was not counted in the crash.
Looking at this statistical table, do you feel a little excited and a little scared? The excitement is that it can rise, the fear is that there will be more plunges.
2. The sharp drop in 2021, this time is just the beginning
I have seen a lot of people discuss where this plunge is in this round of bull market.
Some people say it is very similar to the 2017 bull market peaking.
Jiang Zhuoer said that this is just the beginning, so why don’t you panic, you have to think about the bull market.
Don’t be limited by poverty to limit the imagination of the bull market.
Regardless of the stage of the bull market, I finally waited for the big bull market for 4 years before the show started. I wanted to lie to me to get off the bus, but there was no door.
The surrounding friends have not paid attention to Bitcoin or discussed Bitcoin. The phenomenon of a large number of media reports on Bitcoin has not yet appeared. The Fomo mood of a large group of people has not yet risen, and it is still just a small group of people’s joy. And many Amber people are not happy yet.
However, the bull market’s plunge is indispensable. The 30% drop this time has not yet seen a 50% drop. Who knows if it will appear. If it does, are your chips still yours? Pay attention to the risk control.
3. The contract broke 12.8 billion, which is a bargaining chip with blood
According to Coin data, more than 200,000 people suffered liquidation during this plunge. The total amount of liquidation on the entire network will be US$1.99 billion, equivalent to RMB 12.8 billion.
Contracts are a money machine for a small group of people, and a meat grinder for most people.
Digital currency is inherently volatile, and taking a spot in such volatility is full of ups and downs. Without two brushes, to play the contract is to send money.
Every time a crash, a large number of people blow up their positions, which has become the fuel for the bull market to rise further. Optimistic about the bull market and stock up with peace of mind.
Today, when you open the market information software, it’s a piece of greenery again. Maybe in a few days, they will all return to high points again, who knows. It’s like 312, falling so hard, it’s not all back.
Only those who have liquidated their positions and lost their chips, it is difficult to come back.
