Liquid Capital founder Yi Lihua said on Oct. 7 that he had repeatedly warned in recent weeks that the market could see a pullback, adding that Bitcoin has not yet broken below a key support level while altcoins have already entered a broad correction. He also said he had judged a month ago that Bitcoin could face a pullback after rising to around $86,000. In his view, bull markets do not move in a straight line. Most of the time, prices remain in a choppy range, with only limited periods of rapid upside and normal retracements. Yi said that even if the current correction turns out to be relatively large, it still fits within a broader bull-market trend. He added that investors do not need to try to trade at all times or capture every single opportunity in the market.
According to BlockBeats, Liquid Capital founder Yi Lihua said on Oct. 7 that he had repeatedly warned that the market could see a pullback. He said Bitcoin has not fallen below a key support level, while altcoins have already seen a broad correction.
Yi added that a month ago, he had judged that Bitcoin could face a pullback after rising to around $86,000.
He said that during a bull market, prices spend most of the time moving in a range. Only a smaller portion of the cycle is marked by rapid gains and normal pullbacks, and a market that rises continuously does not exist.
In his view, even if the current correction is relatively large, it still counts as a normal move within a bull-market trend. He also advised investors not to try to trade constantly or capture every opportunity.
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