Director of research firm CryptoQuant Ki Yeon Ju believes that only newbies sell bitcoins during the dump.
If you are panicking and dumping Bitcoin right now, you may be a newbie. A 30% correction during a bull run is normal for the BTC market. It has fallen 53% in 2021 and still made an all-time high. Buying on the rise and selling on the decline is the worst investment strategy. Invest with a clear plan, - wrote Key.
To back up his claims, Zhu posted a chart showing that during previous bull runs, Bitcoin's price fell by over 45%, and in 2024, the coin's value fell by about 16%, but despite this, BTC's price peaked at around $107,000 in December.
Bitcoin price drop on chart
It is noteworthy that on February 19, before the dump began, Qi correctly predicted the start of a bearish trend:
The bull cycle is not over. The price will eventually go up, but the range of its fluctuations is quite wide. Personally, I think the bull cycle will continue even if the price of Bitcoin decreases by 30% from the all-time high (i.e. from $110,000 to $77,000), as it has happened during past cycles.
In response to Zhu's post, one commentator rightly noted that it's better to panic now and sell bitcoins than to wait for a 50% or more drop in price. Indeed, if Key's prediction doesn't come true and BTC, whose rate has already fallen below $80,000, falls to, say, $50,000, then it's worth getting rid of the cryptocurrency immediately and buying it at the bottom.
