On Friday, a significant downturn in the crypto market triggered discussions about the potential beginning of a bull market. Trader Alex Becker commented that the sell-off reflects an unprecedented impatience among investors, suggesting that now could be a poor time to sell.

“I think there’s a very high chance this is the start of the bull market,” Becker remarked in a YouTube video released on Saturday. He urged that selling at this moment might be a grave mistake.

Becker made these remarks following a major market correction, where Bitcoin’s value dipped over 10% to $102,000, largely influenced by former President Trump’s declaration of a 100% tariff on Chinese imports. This resulted in a staggering $19.31 billion in liquidations, surpassing the losses experienced during both the COVID-19 crisis and the FTX collapse.

Wipeout Resetting the Market

Despite the chaos, Becker described the plunge as an overreaction and believes it has reset the market dynamics. He stated, “Everything they do to the market gets overreacted three to four times because people won’t just f##king wait a couple months to get the gains they need to get.”

There remains optimism surrounding Bitcoin’s value, as it had reached a high of $125,100. However, it still trails behind earlier predictions of reaching $250,000 by year-end made by market figures.

Crypto analyst, Benjamin Cowen, shared a similar viewpoint, indicating Bitcoin’s potential for short-term growth.

The Crypto Fear & Greed Index reflected increased market anxiety, showing an ‘Extreme Fear’ score of 24.

Related: Market crash ‘does not have long-term fundamental implications’ — Analyst

ImageBitcoin is trading at $111,210 at the time of publication, down 10.43% over the past seven days. Source: CoinMarketCap