Known for its volatility, Bitcoin (BTC) recently fell more than $11,000 over a four-day period after weeks of soaring price action. Amid a fresh bull cycle, Bitcoin has likely picked up its fair share of new buyers — some of whom may not be familiar with the asset’s wild price swings, according to comments from Cheds, a crypto trader and analyst on Twitter. Cheds holds a level I CMT certification — a benchmark showing technical analysis knowledge.
“Given the recent surge in popularity of Bitcoin, we have many new investors and traders who have not been through any shock events, like that $8,500 daily range candle we just had,” Cheds told Cointelegraph.
Bitcoin surpassed its 2017 all-time price high in December 2020. In the following weeks, the asset doubled its former high near $20,000, tapping just shy of $42,000 on Jan. 8, based on TradingView.com data. This is likely due in part to big players from traditional finance buying