What caused Bitcoin to dump? Is the Bull run over?

Few days ago Bitcoin was at 24000 and now Bitcoin is around 23000 and of course some people are discouraged once again wondering if we have been in a giant bull trap and we are feeding back down to 12000 as some people have predicted.

Friday was catalyst and that's because we received inflation data in United States. DXY started pumping up too, so you could see that dxy is at 105. If you look at some of the times scales , dispose life we are observing the daily scale it does show Bitcoin needed to come down so whether it's micro whether it's technical Bitcoin came down.

Is the path to the next bull run over?

Answer is "no". Despite the fact we have come down to 23000 let's not forget where we started in the beginning of the year. You can check the graph of Bitcoin so we have started at 16000 on 1st January of 2023. So just think we were at 16000 and now Bitcoin is at the place of 23000 which is fantastic place to be at. We had a huge recovery sins then. It's okay you cannot have parabolic mountain climbing to the moon forever you need to have some breaks. You already have seen the graph where Bitcoin went down to 21000 and then it went up so it's not the time to panic. Especially considered drink we started the year at 16000 and we really did not move until like the second week of January.

Well you can use the history graphs of Bitcoin as a guide if we look at previous cycles and previous recovery from bottom you will see there are so many ups and downs.

Every time Bitcoin started breaking out well great things happened afterwards. In long term more and more people are coming into the space of Bitcoin and there are more holders of Bitcoin and more Bitcoin is being removed from the exchanges and held by the holders and its just a simple supply versus demand. Supply is decreasing the demand is increasing and that is why Bitcoin will break its previous high and farm a new high after the next event in 2024 . Hopefully 2025 will be absolutely fantastic.

You can analyse the graph of 2019 versus 2023 and you will see that in 2019 Bitcoin follow the same route which is following right now. After that dump of Bitcoin it boomed up. This could be a giant fake out before the next huge run up. I am also thinking in the same way that a history is repeating itself and no doubt it's going down and it would be depressing for some people the new investors who are coming daily on basis, it's specially for all those people not to be panic in this situation.

Thanks