Ivan On Tech – BITCOIN: DUMPING VERY FAST!!! BUT WHYYY WHYYY (18.06.2024 Summary)

Ivan On Tech – BITCOIN: DUMPING VERY FAST!!! BUT WHYYY WHYYY (18.06.2024 Summary)

Bitcoin’s price has been experiencing significant volatility lately, with rapid drops that have left many investors puzzled and concerned. Ivan addresses this phenomenon in his latest video.

  • In the first paragraph, Ivan acknowledges the recent price dump, describing how portfolios, especially those heavily invested in altcoins, have taken a beating. However, he reminds viewers that Bitcoin’s price is still within the bullish trend and parabolic curve, even after months of sideways trading.

  • Ivan delves into the potential reasons behind the price movements. He attributes the recent shakiness to the FOMC meeting, where it was announced that interest rates would likely be decreased only once this year instead of three times as previously expected. This news led to the liquidation of around $500 million in positions as Bitcoin’s price fell.

  • Despite the temporary setback, Ivan remains optimistic about Bitcoin’s long-term prospects. He highlights the ongoing accumulation by large investors while weak hands are selling.

  • He explains that this sideways price action is a psychological test designed to shake out as many investors as possible, allowing whales to accumulate more Bitcoin at lower prices.

Overall, Ivan’s message is one of patience and perspective. While short-term price fluctuations can be unsettling, he believes that Bitcoin’s fundamentals remain strong, and the current consolidation phase is a natural part of the market cycle. He encourages viewers to maintain a long-term outlook and continue accumulating during these dips.