This is Bitcoin being classic Bitcoin.

We always see these big dips, even during a bullrun. And after steep volatile rallies, you get equally volatile corrections.

It would have been really weird if after the 166% rally we just had, it would only do a 16% correction to somewhere above $60K.

https://preview.redd.it/ypivgrkh9uxc1.jpg?1122&format=pjpg&auto=webp&s=2aa8563dfb8e7c0813d92fedd91ce2fc02ebca0f

A correction closer to 30%, taking us to the low $50Ks, to maybe as much as the high $40Ks, seems like the most typical scenario here, and in line with what this market usually does.

Even in a best case scenario, you're looking at at least a 20%-25% correction, and testing something higher in the $50Ks. If you believe the market is too bullish to drop that much lower.

In a market this volatile, not many large traders are gonna settle for just 16%. They may not even settle for 20%.

They want to start accumulating at the volatility level they are betting on in this market.

Worried about this dip?

If anything, the OGs and old timers are a bit relieved about this dip.

It really proves once again that everything is playing out like clockwork for the time being. We got the usual correction after a rally, and even the cycles and post halving dip playing out like clockwork. This market is still predictable enough and not doing anything too weird, so we don't have to worry about "this time it's different" just yet.

This is yet another opportunity for whales to steal candy from a child, and take money from panicking hands as we drop into the $50Ks, from people for which this is likely their first rodeo, and may legit think that this is the final drop into a long bear market, and this first pre-halving rally was the final fomo mania run lol. Yes, I kid you not, there are actually people who believe that right now.

Just look at the graph of the 2017 bullrun. This is just the first of these big rallies and corrections.