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Is the recent price drop in bitcoin a warning sign or a buying opportunity?


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After several sideways trading sessions, the price of BTC has finally taken an exciting swing lower, raising the possibility of significant price movement in the future. According to several observers, this pattern presents a fantastic opportunity for Bitcoin investors to buy the dip and profit.

 

Not everyone, however, is upbeat about the recent price decline; some remarked that the market was shocked by the extreme bearish momentum below the immediate support level and that long-term holders are losing their positive sentiments, which may open the door for them to close their positions.

Is the current BTC price decline a buying opportunity?

Investors are once again alarmed after a recent decline in the price of Bitcoin erased a more than 50% rise from January. Bitcoin has turned investment portfolios red and doesn't appear to be turning higher. While some investors are apprehensive, analysts reassure them by pointing out that the price drop presents a lucrative opportunity to buy additional Bitcoins in order to maximise gains in the future bull run.

Messari, an on-chain analytics company, found that the FTX's collapse had had a greater impact on Bitcoin pricing than macroeconomic factors like inflation, job growth, and interest rate hikes. The company claimed that after FTX's liquidation, the price of bitcoin fell by 25%.

However, Bitcoin's on-chain activity did not decline despite a strong negative divergence and many bankruptcy filings in the sector. The number of Bitcoin addresses with non-zero balances is increasing exponentially, according to Glassnode.

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It is reported that the metric rose above 43.8 million this week, signifying investors’ entry amid the market dip.

Bitcoin is Getting Ready for a Huge Surge –

The price of bitcoin is neutral from the previous day as a result of sellers opening short bets  when BTC troubled to trade above its crucial price point of $23K.

A bullish move in the BTC price chart is expected by the end of February as the Stochastic RSI makes a bullish cross inside its oversold support region, which previously marked a bullish rally in January. A steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19 as per coinpedia. In contrast, the price of the star crypto could sink to a low of $23,218.00.

10 jan BTC.png

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    • This is not an acceptable explanation for me unfortunately, I am fully aware of the need to move spreads and I had accounted for that. Especially at the open of a market, but your spread was totally unreasonable the spread on DEC contracts is already at 130pip standard, to increase it to 400pips and hold it there even after 5 mins of trading. As my execution was a 09:06 the main market volatility had already been accounted for.   So disappointing after 6years being a customer and on a profitable trade as well: 
    • Dear @MB1470, Thank you for your post. Please note that dealing spreads on shares are subject to variation, especially in volatile market conditions or other unusual circumstances.  Market spreads can widen significantly, particularly at the beginning and end of the trading day, and minimum spreads may exist. Thanks, KoketsoIG
    • This morning at the market open on NOVO DEC contracts. On Spread Bet.    the spread moved from 138pips to close to 400 pips? How can this be reasonable the candle is only displayed on a 15-2min time period not on smaller periods. At market open 09:00 ????? How is this even remotely reasonable?     
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