Expert who nailed Bitcoin’s drop to $18,000 points to ‘right time’ to buy and gain 500%

At the beginning of the second half of June, the Bitcoin fell from US$30,000 to US$22,000, largely influenced by a series of negative events that affected several players and platforms related to the rental and lending of cryptocurrencies.

However, as a result of these events, the market experienced further liquidations in recent days and the price of the main cryptocurrency in the market reached below 18 thousand US dollars and, although at the start of the week it was back to $20,000, soon after BTC fell back to $19,000.

“In addition to the negative news involving several industry players, it is speculated that some investment vehicles had significant redemptions last week, which would have brought additional seller flow to the market”, assesses Guilherme Rebane, head of from Latam to OSL, digital asset platform.

According to Rebane, there are still risks associated with certain niche players in the industry, which may continue to set a negative tone for the market, but the fundamentals remain strong, “It’s not a crisis of confidence in the asset class,” he says.

In line with Rabane, analyst Tasso Lago, manager of private cryptocurrency funds and founder of Financial movementemphasizes that the foundations of The long term of Bitcoin is strong and the current moment can be a good opportunity for traders and holders.

the lake was accurate last week showing Bitcoin buying at $18,000 when the crypto asset was still trading above $20,000.

“With this, I have adjusted my buy outlook at $20,000 to look to buy there in the $18,000 area. In this region, we have the MA 200 weekly average in the $22,000 region, which which is great support for the week,” he pointed out last week. .

The right time to buy and earn 500%

Now, the analyst points out that after Bitcoin lost the EMA+Ma200 on the weekly chart, there is a very uncertain scenario in the short term.

“On the H4, we are at the 50% Fibonacci retracement level, which is a support zone for the move. We are looking down, which is at $18,000. Which is natural after the drop,” said he pointed out.

Thus, according to him, the current move is a great opportunity for both holders and traders.

“We prefer short trades and the assembly of HOLDs at the moment, with a long-term view. Today, any HOLD contribution can monetize its capital by 500% + in the next recovery cycle. their long-term returns Patience is needed even for a more euphoric market,” he concluded.

4 cryptocurrencies to watch

Lucas Schoch, CEO and Founder of Bitfyhighlighted 4 altcoins that managed to shrug off Bitcoin’s low and print up to 47% appreciation as BTC bulls struggle to hold the crypto asset above $20,000.

The opening of the list of experts is the WAVES with a 47% appreciation in the last seven days. According to him, the cryptocurrency is inherently involved in the war between Ukraine and Russia, always maintaining a constant rise and fall in value since the beginning of the conflict.

Second, it highlights the Uniswapwhich gained popularity on its launch date in November 2018, thanks to the DeFi phenomenon and the associated rise in its token trading.

“Uniswap, enables its Ethereum-based swap, and allows its users to provide liquidity for passive income or in the exchange between various assets, and this week it is appreciating the equivalent of 39%,” points out he.

The analyst is also eyeing Elrondcryptocurrency whose mainnet was launched recently, in July 2020, and is among the main assets of the DeFi market.

Its platform was created with the aim of being a solution to the scalability problems of other blockchains, offering more speed in transactions thanks to sharding, a kind of fragmentation of the database to allow the processing of several parallel transactions at the same time.

The network owns the native EGLD token, which is used to pay network fees, staking and rewards to its block validators, and the project describes itself as an internet technology ecosystem, bringing together fintech, DeFi and IoT.

“Its developers claim that its smart contract platform is capable of performing 15,000 transactions per second, and in the past seven days the asset has appreciated by 34%,” he said.

Schoch’s list closure is a memecoin shiba inus which was created anonymously in August 2020 under the pseudonym “Ryoshi”. Memecoin quickly rose in value as a community of investors were drawn in by the crypto charm combined with headlines and tweets from cryptocurrency market figures.

“This past week the currency has risen 28%, many analysts have the prospect that the big upside has already happened, but you never know where the volatility may take this asset,” he concludes.

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