because some Bitcoin holders do take profit. But I find the support price at $ 29,000 very strong, so there is a big possibility that the price will
go up again and the possibility to go up higher than the price of $ 34,000. Because if the Bitcoin price rises without correction, in my opinion,
it is not healthy, and there can be a very deep dump. But if there is a small correction like now, it would be very good to make the price go
much higher.
During the past couple of hours, the prices have recovered from $29,000 to $31,000. I would not even call this as a full-scale correction. Rather, it is just like a minor dip. Within the next couple of days, we should be back at 34K. The rapid recovery confirms one thing. The demand for Bitcoin is still quite robust and the whales are making use of every opportunity to accumulate as many coins as they can.