year 2022 bitcoin and it hasn’t been a good year for cryptocurrencies. Because on the one hand BTC and altcoins while experiencing sharp declines, crypto- The major platforms of the market also experienced collapses.
in May terra The collapse that started with FTX and BlockFi continued with the bankruptcy of FTX and BlockFi.
Along with these declines and collapses, there was a recession in the markets. While investors want this bad weather to dissipate, CryptoQuant The analyst said that these bearish periods could be an opportunity to accumulate.
In the article penned by CryptoQuant analyst BinhDang, the declines BTC It was stated that it could be an opportunity for those who are trying to save but late or new to the market.
Saying that Bitcoin is already at the intersection between loss of supply and profit, the analyst said, “This intersection area can be the perfect backlog for a fresh start.” said.
“For about 13 years, we’ve noticed an area of intersection between loss of supply and profits when price is in each subzone in four cycles.
Even in the early stages when Bitcoin was only a dollar, this intersection existed. There seems to be a rule of thumb that has been around for over a decade.
This bear season I only saw this crossover area emerge when the price dropped to the current level.
The existence of this area will be long enough for the market to calm down after the loss.
BTC price may drop by a very small percentage, but this crossover is undoubtedly the best area to accumulate for a fresh start.In this context, it is difficult to find the bottom in BTC.”
long-standing horizontal bitcoin At the time of writing, it stands at $16,500.
*Not investment advice.
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