Analysis: The bull market "plunge" is not uncommon, short-term decline does not affect the bull market continues to develop

On June 2, the General Administration of China passed the "BTC plunged more than 10%, and the bull market ended?" —— Blockchain Weekly 0602, the report believes that the BTC staged the roller coaster market may have the following reasons: (1) pre-emptive selling; (2) profit taking by some investors; (3) technical indicators Deviation, the price has a callback demand. In the past six years, the BTC has risen and fallen more than 10% in a single-day market, and there have been 150 times. On average, there will be a “popping up” every half-month, and “surge and plunged” It tends to occur in the late stages of the bull market and the early days of the bear market. In addition, the short-term sharp decline in BTC prices is not uncommon in the bull market. This round of BTC price up cycle has been opened so far, BTC prices have fallen and the intraday decline has exceeded 8%. It has appeared 7 times. However, in the bull market, “plunge” often It will soon be digested by a large number of buying discs that will appear later. The short-term decline does not affect the continued development of the bull market. In terms of market conditions, BTC's new high-yield callback, the bull market logic remains unchanged.