Yello, ParadiseClub Members! 😎 Are you tracking the latest Bitcoin drawdown and what could it mean for you? Let’s break down what’s happening:

💎The 2023-24 Bitcoin bull market has experienced a drawdown of -26% on a closing basis, aligning with previous uptrend cycles. While this might sound alarming, it’s important to note that this correction is the deepest we’ve seen since the FTX collapse, indicating that we’re navigating one of the more challenging periods for demand. The declining demand leads to a Bitcoin drawdown and bearish sentiment all over the market.

💎According to our ParadiseTeam Professional Traders, this current cryptocurrency bull run is echoing the boom cycles of 2013 and 2020 which suggest that we may be heading towards a second peak driven by smart long-term investors. The current market needs a fresh wave of liquidity to get out of the latest Bitcoin drawdown. With interest rate cuts on the horizon, we could see a surge in liquidity; however, keep in mind that price action might react prematurely due to all the buzz in the market.

Stay focused, patient, and disciplined Paradisers🥂

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