Now is the time for the cryptocurrency market to experience a 312-style waterfall.

Bitcoin is steadily rising, reaching a high of $123,300, entering a dense trading zone, with the weekly Bitcoin chart showing a bullish accumulation trend.

A few weeks ago, there was widespread panic, making retail investors fearful. Now, no one is mentioning negative news; in fact, the negative news from a few weeks ago was just a tactic by the market makers to drive down prices and collect cheap assets.

In the past few days, everyone in the square and the chat groups has surprisingly been bullish, all shouting that a bull market is here. However, a significant rebound in a bear market is the most frightening. The more people who are bullish in a bear market, the more likely a 312-style waterfall will occur; in a bear market, it would be unusual not to see a waterfall. Every year in the cryptocurrency market, there is a major waterfall with a 50% drop. Every 3 to 4 years, a 312-style waterfall occurs. After narrowly escaping one disaster, one can act boldly again.

Currently, the crypto market has reached a difficult position, with Bitcoin rising from the previous $74,000 to nearly $120,000, which will face selling pressure from short-term profit-taking. It will also be subjected to selling pressure from the positions left by previous whales. At the same time, there is selling pressure from miners borrowing coins from platforms for pre-sale; Bitcoin miners will return the mined Bitcoin to the platform, locking in 50% profit. The more the market rises now, the more dangerous it becomes, and the stronger the downward momentum grows. For an old retail investor who has been in the market for over 7 years, the scent of a 312-style waterfall is already in the air.

Now is the time for the cryptocurrency market to experience a 312-style waterfall.