After the sharp drop in Bitcoin (BTC), everyone is wondering if it’s time to buy. So is it really time to buy in Bitcoin? Or will the price of BTC fall further?
The fall of the crypto money market seems to have stopped at the moment. Bitcoin (BTC) fell below $ 4K last night. As a result, all cryptocurrencies remained in the red zone. The market breakdown positively affected the dominance rate of Bitcoin (BTC), which increased last week. The current index is now 64.14 percent according to CoinMarketCap data.
The relevant data for Bitcoin at the time of writing was as follows:
Market Value: $ 99.90 billion
Price: $ 5 thousand 468
Volume (24s): $ 74 billion
Change (24s): 11 percent
Has Bitcoin Already Reached the Bottom?
Since there is a large purchase volume here, the level of $ 3,600 can be considered the lowest level. However, the decline in the past 24 hours was around 25 percent, and this is considered one of the biggest decreases in the past few years.
Based on the daily chart, it may be thought that the current situation is a market breakdown rather than the onset of the ongoing decline. It is important to pay attention to the closing daily candle. If it closes with a long wick, Bitcoin (BTC) has a chance to return to $ 8,000 at the end of the current month. In addition, the main line of the Bollinger Band indicator is at this level.
What They Say
Famous analyst and investor Crypto Michael made important statements. Michael evaluated the buying opportunities and said:
“Yesterday there were opportunities everywhere. Buy even if your own blood is spilled! ”
Another analyst, The Crypto Dog, said: “It’s too early to say, but I think panic surrender is a deviation. I don’t think this makes sense to walk around $ 6,000 and see the range. The world is still shaking, but I’m optimistic. ”
Too soon to tell, but I think that panic capitulation was a deviation.
I don’t think it’s unreasonable to see us ride up to and range in the $ 6000s from here.
The world is still in the mess, but I’m an optimist – just playing it level by level right now.
– The Crypto Dog? (@TheCryptoDog) March 13, 2020
Another analyst, Selcoin, sees the opportunity to buy expressed. Selcoin said, “I stayed true to my plan in Bitcoin. I saw the fall, I caught it, I evaluated it. After that, whatever is in Nasip is now. It is my personal opinion, not advice. Do not go and print the property, I do not. “I always have money on the side for other products. There is no guarantee of any product,” he said.
In Bitcoin, I remained loyal to my plan. I saw the fall, I caught it, I evaluated it. After that, whatever is in Nasip is now. It is my personal opinion, not advice. Do not go and print the property, I do not. I always have money on the side for other products .. there is no guarantee for any product.
– Selcoin (@Selcoin) March 13, 2020
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