Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
You should understand that many persons invest in bitcoin for the purpose of getting profits off it over the short period of time, and that what majorly causes the bear when investors are selling of their bitcoin.
But I think it's majorly a very wrong move to be doing that cause we have a lot of big players and companies that are well equipped in cash that are buying bitcoin now and would really love you to sell your holdings back to them, you can see how the price of bitcoin soared after the ETF approval and how big investors are rushing in now.
To me after the sell their would be regret cause bitcoin would continue to rise and they would be on the losing side when they can't buy back at the price they sold, I'm quite sure that if the ETF continues buying we might not have a major bear that would take up back to lower prices like 35-50k, so a better advice would be mind when your selling.
Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
That is called "Take Profit" and always happens every time when Bitcoin is skyrocketing right now. I actually not really a diamond hand so usually when my profit is around 50% when bitcoin reaches a peak like this moment that reaches a new all-time high there is always a want to take profit at the end people just want a profit at least people like me.
Bitcoin congestion also happen on bitcoin network because more and more people tend to move their coin from cold wallet to exchange hot wallet.
Enjoy this meme while it last
Quite funny how no one really is a long term holder as they claim to be #not referring to you#, bitcoin offers a greater empowerment to people that hold longer cause you have more chances to get greater returns than short term investors while I'm not against this I just prefer to advice not to sell all your assets at once or at all, but instead sell some portion and keep on accumulating when the bear comes again.