Jump to content

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


Recommended Posts

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.

Quote

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

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Imagine stepping into a world where every game you play is not just about entertainment, but about unlocking real rewards and experiences that resonate with you on a personal level. That's the magic of Game-Fi projects, where the boundaries between gaming and finance blur, creating an immersive universe where players are not just participants but pioneers of a new era. In the midst of this gaming revolution, there's a project that's been making waves for all the right reasons: NADA Protocol $NADA. Recently, I found myself diving deep into the realm of emerging Game-Fi projects, and NADA caught my eye like a hidden treasure waiting to be discovered. It's more than just another token; it's a symbol of possibility, offering gamers a glimpse into a future where their passion translates into tangible rewards. Let me take you on a journey through the world of NADA Protocol, where innovation meets excitement, and where every move you make could be the key to unlocking a world of endless possibilities. 1. Rewards Beyond Imagination: NADA Protocol isn't just another token; it's a ticket to a world where every move, every triumph, is rewarded. Imagine playing your favorite games and earning tokens simply for doing what you love. With NADA, that dream becomes a reality. 2. Trailblazing Roadmap: What sets NADA apart is its ambitious roadmap, charting a course towards a future where gaming and rewards intertwine seamlessly. With plans to integrate into future games, early adopters of the native token stand to reap massive rewards down the line. 3. Korean Innovation: Behind the scenes, NADA is powered by none other than NADA Digital Co., Ltd., a powerhouse in the Korean gaming industry. With a proven track record and global recognition, NADA Digital Co., Ltd. brings a level of expertise and reliability that sets NADA apart from the competition. 4. Global Validation: It's one thing to dream big, but NADA has the track record to back it up. With a presence in the global market and validation from players worldwide, NADA isn't just a promising project – it's a force to be reckoned with. 5. Exchange Expansion: The anticipation builds as NADA gears up for listing on top exchanges like Bitget. With increased accessibility and liquidity, NADA is poised to make waves in the Game-Fi space, captivating audiences and investors alike.  What are your thoughts, let's discuss? 
    • Hi There - Any update on this??? Or is it time to move my accounts to a platform that can provide DRIPs?
    • Hi There - Any update on this??? Or is it time to move my accounts to a platform that can provide DRIPs?  
×
×
  • Create New...
us