Bitcoin looks to have started losing its dominance, and that has lead to the panic sell in the market and some other factors that the market cannot get to uphold strong to not fall. If we’re being honest to ourselves, the crash is just a sign of the bear market now upon us, so the best thing to do now is to hold and look for opportunities to buy more and add to our portfolios. I doubt if the market will hold on to that support zone strongly for the next one month without falling further, the bear season looks to have started, but we shall wait and see how the market reacts till the end of the month. The market looks to be one sided, and not going back up again but observing the situation now is much better as coming to early conclusions of the market now can lead to another surprise, the market remains unpredictable to all.
Bitcoin has never lost its dominance, it remain the most reliable and largest crypto on the market.
For financial markets in general, it is simply because capital is constantly rotating between different markets. We cannot demand that money will always flow into bitcoin and stay there forever. Every market has its own cycle.
The bear market has been going on for a while, and we are even very close to the bottom, not just starting. This is a good time to accumulate bitcoin, and we should take advantage of this opportunity instead of hesitating.
