Ever since the recent panic sell-off introduced by the policy flip of the Fed and US stocks, the crypto market has been struggling with the dangerous typhoon. Bitcoin (BTC) price witnessed a plunge of 16%, standing at $33,100 from $39,500 in just five days. The plunge started on 5th May and continued till 9th May, making people extremely apprehensive.
Various events such as the interest rate hikes by the Fed and the plunge in the US stock market show that BTC may witness a tough time. Nevertheless, several other factors indicate that it is the best time for crypto investors to take advantage of the dip.
Halving of Bitcoin – Radical Factor to Increase the BTC Price
The next approaching round of BTC halving will again significantly affect BTC price. With every halving, daily supply and issuance tend to go down. The challenges involved in blockchain mining are most likely to increase further for the miners, which will cause the BTC price to rebound. This price rebound resulting from fundamental factors is unparalleled and unstoppable.
The Greed Index Reflects That the Market Should be “Hot“
While analyzing the existing sentiments prevailing in the Bitcoin market, what is generally used to indicate greed and fear sentiments is a scale from 0 to 100. 0 indicates ‘extreme fear’, whereas 100 indicates ‘extreme greed’.
If the investors become extremely greedy, it implies that the markets will automatically adjust, whereas when the greed index moves to extreme fear, it means that the investors are worried. Extreme fear of the greed index also indicates a good opportunity for the investors to buy. Rational investors can perfectly identify the market signals and, at the same time, seize every investment opportunity. The massive BTC drop may bring relative opportunities to the investors.
The Best Time to Bottom Out Bitcoin
Last year, in November, Bitcoin’s price was $68,000. However, the current BTC price has plunged to $33,000 – a great fall. If investors decide to buy now, their cost is likely to be over 50% less than before. Now is the best time for investors to join the cryptocurrency market.
Professional traders and investors have been practicing different trading strategies during simulated trading in a market with such a huge dip. They have chosen the correct trading tools that have helped them maximize their gains. BexPlus provides leverage of 100x that has allowed people to trade $1 as $10 and get all the gains brought about by $100.
Let’s assume a trader uses 1 BTC to start long contracts while BTC trades at $33,000. As soon as the BTC price increases to $37,000, the trader will gain (($37,000 – $33,000) * 100 BTC / $37,000 *100% = 10.8 BTC. This will make ROI 1080%.
Know More About Bexplus
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