Crypto is getting absolutely hammered! Why is it falling, and will it keep falling? Sol is looking so weak—what exactly happened?
1. First, let’s talk about why Bitcoin is falling. Let’s look at the chart. As you can see, this week’s pullback in crypto was largely dragged down by the broader US stock market. The Nasdaq fell a full 1,000 points! So why did US stocks fall?
2. The US stock market has had a rough time too. It was poised to break through its previous all-time high, but then Saudi Arabia and Yemen clashed last week, sending oil prices soaring and stocks plunging. We thought things would be better this week, but then the memory-chip market crashed after ChangXin Technology announced a major breakthrough, which could break the three giants’ monopoly.
3. So, back to crypto: what should we do now? Don’t be afraid—just go for it! A pullback is the best chance to get in. We’ve discussed Bitcoin before: around $80,500 is the best entry point. You can trade futures on a rebound, and for spot, just buy the dip during this pullback.
4. What about Sol? Why has it fallen so much? The thing about Sol is that its market cap is relatively small, so it’s more volatile. When it rises, its gains are often twice Bitcoin’s. The same goes for declines: it can fall twice as much as the broader market. Bitcoin fell from $120,000 to $60,000, while Sol dropped from $300 to $60—that’s high volatility. But after buying the dip, its gains could also be bigger in the future.
5. So, getting back to the point, this drop in Sol is actually an opportunity for us to get in. Think about it: it’s fallen a lot now, so it has more room to rebound later! Right? After all, Sol has doubled over the past few weeks, so a pullback is totally normal. Just be patient. Once the pullback runs its course over the next few weeks, the next wave could take it even higher!
6. I actually went over all of this yesterday, as shown in image 2. I posted then that I was shorting at the $84,000 resistance level and selling Bitcoin, because it could very well retest the $80,500 area. And sure enough, it dropped back there this morning. Nothing surprising. It may continue to move sideways for a while, so you can trade the swings back and forth. Be patient and wait—it’ll all eventually recover. Keep it up!
1. First, let’s talk about why Bitcoin is falling. Let’s look at the chart. As you can see, this week’s pullback in crypto was largely dragged down by the broader US stock market. The Nasdaq fell a full 1,000 points! So why did US stocks fall?
2. The US stock market has had a rough time too. It was poised to break through its previous all-time high, but then Saudi Arabia and Yemen clashed last week, sending oil prices soaring and stocks plunging. We thought things would be better this week, but then the memory-chip market crashed after ChangXin Technology announced a major breakthrough, which could break the three giants’ monopoly.
3. So, back to crypto: what should we do now? Don’t be afraid—just go for it! A pullback is the best chance to get in. We’ve discussed Bitcoin before: around $80,500 is the best entry point. You can trade futures on a rebound, and for spot, just buy the dip during this pullback.
4. What about Sol? Why has it fallen so much? The thing about Sol is that its market cap is relatively small, so it’s more volatile. When it rises, its gains are often twice Bitcoin’s. The same goes for declines: it can fall twice as much as the broader market. Bitcoin fell from $120,000 to $60,000, while Sol dropped from $300 to $60—that’s high volatility. But after buying the dip, its gains could also be bigger in the future.
5. So, getting back to the point, this drop in Sol is actually an opportunity for us to get in. Think about it: it’s fallen a lot now, so it has more room to rebound later! Right? After all, Sol has doubled over the past few weeks, so a pullback is totally normal. Just be patient. Once the pullback runs its course over the next few weeks, the next wave could take it even higher!
6. I actually went over all of this yesterday, as shown in image 2. I posted then that I was shorting at the $84,000 resistance level and selling Bitcoin, because it could very well retest the $80,500 area. And sure enough, it dropped back there this morning. Nothing surprising. It may continue to move sideways for a while, so you can trade the swings back and forth. Be patient and wait—it’ll all eventually recover. Keep it up!