$BTC The significant drop in May has basically been confirmed.
Last month, I mentioned that BTC would face a deep correction in May. At that time, many people in the comments mocked me, saying my bearish prediction for a month was purely guesswork, and some even said, 'If it doesn't drop in May, I'll unfollow.'
But the facts once again validated my judgment, especially the analysis on May 2, which was almost spot on — I clearly mentioned that the market would significantly correct after the non-farm payroll data was released, and right after that, the next day, it began to fall. At that time, I also emphasized that the short-term rally was just a trap to entice buyers, and a subsequent major drop was inevitable. As a result,
$BTC dropped from a high of 97800 to 93500, a correction of 4300 dollars, and this is just the beginning.
The next two major events could accelerate the decline: first, tomorrow's ETH upgrade, which is likely to allow the main players to offload based on the good news; second, the day after tomorrow's Federal Reserve interest rate meeting, which is expected to remain hawkish (negative). The combination of these two events could very well trigger an accelerated decline this week.
Finally, a reminder: the above is only a personal prediction, and there are variables in the news, so do not blindly follow. Market risks are unpredictable, so be sure to control your position and keep enough capital to deal with extreme market conditions.
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