As the Russia-Ukraine tension continues, we observe that the selling pressure in the crypto money markets is increasing.
Bitcoin, which regressed to $ 38580 during the day, again bled altcoins. The red color is dominant in altcoins, which continue to be traded with an average loss of 10% on a daily basis.
Ethereum, which entered the weekend under $3000, has also pulled back to $2620.
So, are these declines a buying opportunity?
Data analysis company Santiment shared that the recent declines have created good buying opportunities. Santiment said:
“After the weekend continued dips, several altcoins have reached historic bottom (buy) zones according to our MVRV opportunity and danger zone model.”
According to Santiment’s share, these are 1inch, LRC, REN and SAND.
📊 After a continued weekend slide, several #altcoins have now reached into historical #buythedip territory, according to our MVRV Opportunity & Danger Zone Model. This indicates average trading returns are in the top 10% in terms of typical bottom areas. #1inch $LRC $REN $SAND pic.twitter.com/pnt69bGV6y
— Santiment (@santimentfeed) February 20, 2022
The tension between Russia and Ukraine caused the oversold of US indices and cryptocurrencies.
A positive news on the Ukraine line may cause the markets to recover rapidly. At this point, altcoins pointed out by Santiment can be followed.
However, buying before the expected positive news will increase your risk.
*Not Investment Advice.