The big correction has been going for 5 days, but the community is still finding its reason.
The world community is reading information about 2 main reasons why the crypto market has made a big correction in recent days:
+ Interruptions in Bitcoin mining in China;
+ Unconfirmed rumors on Twitter late Saturday night about impending charges from the U.S. government over crypto money laundering appear to have been the initial trigger.
However, I myself do not believe in these 2 reasons. I think all information is to validate market movements, meaning that information is born to make market volatility more reasonable.
The Vietnamese crypto community already knows that the second major correction will take place when BTC reaches around 66K. The April 18th correction took place after BTC reached $ 64,854, i.e. mere1.7% error. We learned this from at least 2 months ago through the sharing of a Vietnamese expert in the crypto field.
So we have the right to believe that correction is not by accident.
So what is the reason?
In my opinion, reason is whales wave!
I think whales want to legitimize the Altcoin season, siphoning more cash into the crypto market instead of continuing to push the BTC price making the market overheat.
Thus, in the time to come, we will likely see the following:
+ Altcoin price recovered and grew impressively while BTC price continued to be kept below 70K USD;
+ BTC.D continues to decline;
+ Market cap increased to 3.5T USSD, followed by 6T USD with a rebound to 90K USD of Bitcoin;
+ November might be where the huge correction takes place, or the start of winter.
What do you think about this conspiracy theory? Do you think the peak price that Bitcoin can reach in this bullrun is just 90K USD? Or do you expect the price of BTC to reach 200K-300K or even 650K USD?
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