It may seem like catching the falling knife, but for those who are brave enough, the current price may be the opportunity to buy some bitcoin from cheap.
The graphic below is a Bitcoin chart created by Twitter user @OddStats , where two days of serious sales are marked in the last two years .
. Bitcoin dropped 11.9 percent in the last two days, Od OddStats said. Here are two days in the last two years and almost the least of the times experienced in this decline. There’s a lot of bottoms out there..
Bitcoin $BTCUSD is down -11.9% in the past 2 days.
Here’s a chart showing every time in the past two years where it has dropped at least that much in exactly 2 days.
A lot of bottoms in there.
Looking at the chart, it is seen that the leader crypto money has risen by 10% or more in two days.
Lastly, such a decline took place on March 29-30 and Bitcoin fell 13.8 percent to $ 6,840. The investors, who made purchases at these levels after the decline, were rewarded with a 46 percent increase in 5 weeks. Crypto money reached approximately $ 10,000 on May 5.
Prior to that, he lost 24.6 percent of the Bitcoin value on February 5-6, but rose 72.1 percent for just two weeks.
It should be reminded that this strategy is not for everyone, and that the falling knife can be costly if caught.
In the meantime, some stock market brokers are making purchases from this point, foreseeing an uptrend in Bitcoin. The latest data from the popular crypto money exchange Bitfinex shows that the number of long positions in Bitcoin has increased from 23,700 to 26,700 for a few days.