Lot of Coins at a Steep Discount
This is the 3rd or 4th bull run in the crypto space that I've been through. So far, each and every single one has been the same (in terms of the market's behavior; volatility changes, but behavior doesn't).
There's always going to be a contraction phase in a bull market.
Bull runs typically end with a blow-off top. We're not seeing that here. A contraction back down to $60-63k for Bitcoin is natural. Especially after it pushed against the ATH (I know that it was set, but it wasn't broken definitively enough to truly say that it was 'shattered' the way you want it to be before declaring that Bitcoin has hit new horizons).
Contraction phases like this happen all the time in a bull market. You want them to happen because it allows the market to 'cool down'. When things get too overheated, that's usually when we get too close to that 'blow-off top' phase.
Prior Blow-Off Tops
1. November 2013
2. December 2017
3. February 2021
4. April/May 2021 (biggest blow-off top of all time; -50% price decrease in the space of a week)
5. November 2021 (slow blow-off top)
By the time a blow-off top has occurred, the price has usually shattered the previous ATH.
