Bitcoin has recently shattered its previous record of $30K, which was seen in June 2022 when the crypto market took a massive hit following the collapse of LUNA and the subsequent domino effect that led to significant losses. Reclaiming this level has historically marked the start of the bull market and today's move supports this.

The key technical aspect that confirms this is the Elliott Wave Principle which dictates corrections happen in three waves, labelled A, B and C. The C-wave is reversed from the primary trend and is usually volatile, as it cuts through the former support where many positions and stop-losses have been placed.

If Bitcoin can maintain its position above the $30K, it could mark the start of a new bullish market. This is certainly an interesting time for both crypto traders and investors with many expecting Bitcoin to continue its trajectory upwards.

Nevertheless, it is important that traders keep a wary eye on the crypto markets, as anything can happen and no one can predict the future of Bitcoin prices or whether this is the start of a bear market. Keeping track of news in the crypto-world is essential to staying informed and aware of any sudden market changes.



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