On Thursday’s historic crash, things were not negative for investors and traders in various markets. Bitcoin recorded the biggest daily decline in its history by half its decline; however, the first financial crisis in Bitcoin’s life was successful. But with less than two months left to Hawking, what impact will this price drop have on the market crypto?
In its recent report, Bitcoin explores three positive facts we have learned about the recent decline in cryptocurrency prices.
The first economic crisis in the history of crypto currencies
The sharp drop in the price of the crypto currency market last week, driven by widespread submission of investors who did not believe in the market, did not bring bitcoin and other market currencies to zero. So it’s worth remembering that Bitcoin, and the crypto currency industry in general, was born in the midst of the financial crisis of the year 2008 and has been in severe danger for the past twelve years. Mr. Hold writes on Twitter:
When bitcoin survives, it can withstand everything. It will be just another chapter of his life book.
Many investors feared Bitcoin would hit below $3000, but the market slowed to a 200day moving average (MA200), pushing upward, which was higher than its previous low; In other words, bitcoin’s uptrend is still steady, and the king of crypto currencies is harder than it seems. Satoshi has designed Bitcoin so that it will not shake with the winds, weather storms or printing Fiat currencies. The US government’s announcement of a potential $ 1.5 trillion injection into Treasury incentive programs is a stamp of approval on Satoshi’s final plan.
2- Great discounts to traders before hawking
Bitcoin, Ethereum, Ripple, Bitcoin Cash, Lightweight, and so on, all of them were not included in these prices since April last year. Warren Buffett famously says: When others are scared, greed.
According to context, now that everyone is scared, it’s the best time for greed. If crypto currencies have survived Thursday, then the best time to buy is from last year to today. Bitcoin Macro writes on Twitter:
Want to know how to get rich? When everyone is scared, buy at a low price, then wait and do nothing. Hand in hand, light a cigarette, read a book and sit down. Sell when everyone is happy and excited. Then wait and do nothing. Buy again when everyone is scared …
Such prices do not seem to be at your disposal for a long time, especially when distressed investors who have sold their currencies for fear of falling behind want to buy again before hawking. Now is the time when the rich get their wealth. The Hoodlers were not worried about Thursday’s bloodbath. Remember that the peninsulas suffered more than bitcoin but still stand. Many traders are stocking up on their favorite pens and possibly buying at the bottom. Yesterday a lucky trader was able to buy a significant amount of (LINK) for less than a cent per unit!
Extensive reforms usually require strong upside markets
There is usually a strong uptrend in the months ahead following any severe downtrend, such as Thursday. On December 10, 2018, bitcoin hit a low of $ 3121 By June of the following year (July 1), the crypto currency was able to record its $ 14000 price.
Whales are currently closing their long-term buying positions for the post-hopping bullish spike. Bitcoin has usually undergone an 80% price correction after a strong uptrend has emerged and again this uptrend has been accompanied by a sharp downturn, though the new price floor has been higher than the previous one. On Thursday, the floor closed at $ 3596, which was $ 470 higher than the previous one. The support level did not settle on the 200-day moving average and fears of a fall would push prices back to higher channels. We may see price declines now, but the real danger has passed through our ears. With Hawking maybe everything is going uphill sooner than we thought!
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