BTC is ready for a rise again, when we examine the charts, I agree with many authors who say that the deep formation is almost complete.
Compared to BTC and cryptocurrencies as cyclical assets and investments in US stock markets, the volume in cryptocurrencies is still not a world-shaking amount. So my belief is that BTC is waiting for some positive news and developments to rise again.
Now, I would like to share with you a news that is on the negative agenda.
The collapse of Terra, which caused the deletion of $ 40 billion in the market, caused an increase in the panic environment, affecting other cryptocurrencies in the market extremely negatively and became the catalyst for the current decline.
Now, a second class action lawsuit has been filed. The re-effect of this tragedy on cryptocurrencies and the new hot news from the Ukraine-Russia war continue to stab cryptocurrencies.
Considering that we are in a bear market under this situation, it seems difficult to expect the rise of cryptocurrencies in the near future.
On the other hand, when the graphics are examined, it seems that Bitcoin is a very suitable ground for the return on the graphics.
In order for these contradictory situations to be corrected and for the indicators to work, I think good news must be on the agenda again in the world.
I don't know if we need waves like Elon Musk again, like the last bull. It is necessary to be both cautious and take risks.