Nobody knows why. Stop listening people on internet. Everyone can make up narratives based on their sentiments.
If they are bullish they can say “market makers needed to liquidate longers before the upcoming pump”
OR
If they are bearish they can say “there are finally no bullish news left (halvening, etf approvals, fed’s interest rate cut possibility etc) most whales are at profit so it was time to dump” and so on…
Especially influencers always try to come up with an explanations about the market moves. They need to validate themselves in the eyes of their followers. They are wrong about their predictions most of the time but will always advertise a few of their alpha calls on twitter, telegram groups etc. Crypto’s total mcap is too low compared to other markets and price actions are too volatile to be able to make healthy assumptions in short terms.
You’ve heard the popular phrase about crypto: never invest more than you are ok to lose. It is correct. Anything can happen in the blink of an eye. So only thing you can do is to have a strategy and goal about your investment. If you’ve hit your goal, or feel bearish, just leave the market asap. If you are bullish yeah it is time to accumulate more and hold. Up or down, both way is possible. At the end we all just make a bet. However there are good strategies to manage your positions, for example it is possible to dca out or dca in.
OR
You can open margin trade positions with high leverage and wait for market makers to decide it is time to liquidate your position.
Stay safe.
submitted by /u/a14alo
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