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Nonetheless, this is a market that I think will be very noisy, but I think sooner or later, around the $75,000 level, we will have found that the market was, in fact, forming a little bit of a base. The run higher after the Trump election has pretty much been wiped out, which does make a certain amount of sense considering that the United States recently announced a crypto reserve strategy, but unfortunately, it was going to use seized Bitcoin, not newly purchased Bitcoin.
So that obviously won’t affect the price in general. That being said, when you look at the charts longer term, we are still very much in an uptrend. It’s been a pretty disastrous move over the last month or so. But at the same time, a lot of long term investors use this as an opportunity to buy more.
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