It seems that the carnage is over.

People have finally returned to their senses. And the guys who sold at 3700 must be having a really hard time living with that decision, because in my opinion that is the worst decision they've made this year.

And after a carnage like this, most people who bought at the bottom are super happy, and they start hoping for the rebound back to higher highs, now that everyone has gotten their senses back.

But hold your horses! That rebound isn't coming any time soon.

Yes, the big sellers are finally out of the market. But the thing is, there are no buyers around to push the price back up.

"But I bought and I keep buying!" you say.

That's true. But can you guess why the crash happened?

If you said "because people got scared", I'd give you five marks out of ten.

The real reason the crash happened is because people got scared, but then proceeded to liquidate their crypto assets to put into institutional investments, like stocks.

Now those have also crashed. So there are no buyers because there's no money left to buy.

And if you look at yourself, that's probably true of you too. You bought the dip so hard you're probably not willing to spend any more money on crypto.

And the volume tells it all. The volume of bitcoin on binance dropped from a record 2.5Billion USDT to a more common 600Million USDT. Ouch.

And I'm guessing that at least 30% of those 600 million dollars belong to the sellers.

Add that to the fact that many people are still bearish, and we might be waiting a while for the pump we're hoping for.

Maybe, just maybe if the crypto whales decide to pump the price, then we might have some action. But that's an unlikely story.

So when should we expect the rebound?

I'll go as far as to say that the rebound won't happen this year. The halving is around the corner, and historically, tanks in price like the one we just witnessed usually occur after the halving. Miners start getting cold feet and bail on us, leaving us with a hole in the price to fill up.

If history is to be followed, after the halving event occurs, the price would still tank by about 50%, which means that if we keep the current price now till the halving, we might be seeing Bitcoin at $2k again. Wouldn't that be a blessing.

Only after the halving and the end of this accumulation phase can we see a decent run up, first to 6k, then 7, then 7.5k and then to 9,10 and all time high brought about by the halving.

All we can do now is hope.

Thanks for reading!

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