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Before it blew up in 2017, it was Bitcoin It offered at least six corrections like the one the market is currently witnessing. At the time, investors who profited from the dive posted an average gain of 153%.
It is possible that, as in 2017, BTC is preparing for another bullish move. However, it is important to note that past events do not guarantee future results.
Hence, the present moment is still fraught with risks. However, there could still be a “happy ending.”
The same as 2017?
Cryptocurrency market volatility is notorious. In 2017, Bitcoin fell by an average of 40%, before jumping by more than 200%.
After creating a fund of about $ 1900 in July 2017, the price of Bitcoin rose to $ 20,000 in the next five months. […] These dips occur in markets that are running higher. Your conviction will be tested. ” calendar o Analyst Vijay Boyabate.
Following the same line, the Bitcoin Archive Profile He explains That corrections are normal, using the 2017 performance to justify the normality of the current corrections:
Bitcoin in 2017: Six corrections between 30% and 40%. Then the average profit is 153%. Corrections are normal. “
Market opportunities
data The updated Crypto Fear & Greed Index chart shows that the market is operating at the 23/100 level. An index close to zero indicates that investors are more “afraid” of “greedy”.
Although panic prevails in the market, Investor Secrets believes that the scenario could create opportunities.
“The cryptocurrency market is a mind game. Negative comments aim to destabilize you. […] This causes fear and anxiety, causing you to panic and sell your own Digital currencies. Instead, try to get excited about the opportunities available to you. ” It says.
This is a view shared by veteran Lark Davis. According to the trader, the best time to invest is when the fear is greatest.
It will be six numbers. I just bought it for $ 31,000. ” I showed.
At the time of writing this article, it was Bitcoin is traded To $ 36,839.61, recording a decrease of 15.07% over the past 24 hours.
Read also: Experts list 4 reasons why cryptocurrencies have fallen
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