Ivan discusses the current state of the cryptocurrency market, focusing on recent Bitcoin price movements and his outlook for the near future.
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Ivan notes that Bitcoin has experienced a drop from nearly $70,000 to around $64,300. Despite this dip, he emphasizes that the overall market sentiment remains bullish. He points out that this price action is part of a normal range, stating, "we're ranging from 60 to 70k."
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Looking at the bigger picture, Ivan references Bob Lucas, who suggests that the monthly candle close looks similar to previous market cycles, indicating that everything is proceeding according to expectations. Ivan emphasizes, "If you zoom out and you see what actually has happened, it doesn't get prettier."
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As for his gameplan from here, Ivan advises a "chill time" until Bitcoin breaks above $70,000. He expects volatility to continue, potentially frustrating both bulls and bears in the short term. He states, "Until we're out of this stumbling, you just relax, you hodl, you see that it's only the beginning on the big picture."
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Ivan anticipates that the market will become more bullish towards the end of the year, particularly in the autumn. He suggests that historically, this is when Bitcoin tends to make significant moves.
In conclusion, Ivan's gameplan appears to be maintaining a long-term perspective and staying calm during short-term volatility. He remains confident in the long-term prospects of Bitcoin and expects more substantial price movements as we move into the latter part of the year.
