{"id":153069,"date":"2021-01-13T02:50:39","date_gmt":"2021-01-12T23:50:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/trader-comforts-the-markets-traumatized-first-timers-amid-falling-prices\/"},"modified":"2021-01-13T02:50:39","modified_gmt":"2021-01-12T23:50:39","slug":"trader-comforts-the-markets-traumatized-first-timers-amid-falling-prices","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/trader-comforts-the-markets-traumatized-first-timers-amid-falling-prices\/","title":{"rendered":"# Trader comforts the market\u2019s traumatized first timers amid falling prices"},"content":{"rendered":"

“# Trader comforts the market\u2019s traumatized first timers amid falling prices <\/strong>”
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Known for its volatility, Bitcoin (BTC) recently fell more than $11,000 over a four-day period after weeks of soaring price action. Amid a fresh bull cycle, Bitcoin has likely picked up its fair share of new buyers \u2014 some of whom may not be familiar with the asset\u2019s wild price swings, according to comments from Cheds, a crypto trader and analyst on Twitter<\/a>. Cheds holds a level I CMT certification \u2014 a benchmark showing technical analysis knowledge.\u00a0<\/p>\n

\u201cGiven the recent surge in popularity of Bitcoin, we have many new investors and traders who have not been through any shock events, like that $8,500 daily range candle we just had,\u201d Cheds told Cointelegraph. <\/p>\n

Bitcoin surpassed its 2017 all-time price high in December 2020. In the following weeks, the asset doubled its former high near $20,000, tapp<\/a>ing just shy of $42,000 on Jan. 8, based on TradingView.com data. This is likely due in part to big players from traditional finance buying Bitcoin in the second half of 2020. Metrics from crypto data site The Tie\u00a0suggest a recent flow of retail money may be a contributing factor as well.<\/p>\n

\u201cThe true believers and really anyone who understands the supply\/demand imbalance loves these volatility events, because it allows them to re-enter or add on to previous positions,\u201d Cheds explained. <\/p>\n

\u201cAs institutional accumulation continues to increase and the daily active trading float continues to decrease, the upwards bias for Bitcoin should continue, and, in my views, all dips should be accumulated.\u201d <\/p><\/blockquote>\n

Other industry participants have\u00a0noted<\/a>\u00a0that Bitcoin dips are common, and are pointing to the recent correction to help guide expectations.<\/p>\n

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A visual of the 2016-2017 #bitcoin<\/a> run up <\/p>\n

Take away: Pullbacks are a part of any healthy bull market #HODL<\/a> pic.twitter.com\/W2F6T0zJxL<\/a><\/p>\n

\u2014 Altcoin Daily (@AltcoinDailyio) January 11, 2021<\/a><\/p><\/blockquote>\n