Daniel Cheung, co-founder of Syncracy Capital, believes that the current crypto market's pullbacks will present 'buy the dip' opportunities for a longer period than anticipated. Speaking on Dec. 9, Cheung noted that traders are adopting a short-term trading mentality, focusing on taking profits regularly. The total market capitalization fell by 5.41% to $3.44 trillion within 24 hours, with significant losses among altcoins such as Kaia, Stellar, and Flare. Despite this dip, Cheung suggests an aggressive recovery could occur if retail traders react fearfully and sell too quickly. Analysts from Swyftx commented that the recent pullback appears temporary, attributing it to excessive leverage in long positions. Approximately $1.58 billion in long positions were liquidated following this significant market shift. Cheung emphasizes the difficulty of timing the market and suggests the belief that many can predict downturns may contribute to an extended uptrend in the crypto space.

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