The cryptocurrency market has been fighting a dangerous typhoon recently since the panic sell-off brought about by US stocks and FED’s policy flip.
Bitcoin (BTC) price plunged from $39,500 to $30,000 from May 5 to May 13, dropping by 24% in a week. And this plunge has also made more people apprehensive.
The Fed hikes interest rate, the US stock market plunge, and other events, all of these show that Bitcoin may experience a hard time. However, a number of factors suggest that now is the best time to buy the dip.
Bitcoin Halving — Radical Factor in the Coming Increase for the Price
In fact, the next upcoming round of Bitcoin halving will once again greatly affect the price of BTC. With each halving, the daily issuance and supply go down.
The difficulty of block mining for miners will increase further, which will also cause the price of Bitcoin to rebound. And the price rebound from this fundamental factor is unstoppable and unparalleled.
The Greed Index Reflects That the Market Should be “Hot”
Warren Buffett once said, ‘Be greedy when you are fearful’. When analyzing the current sentiment of the Bitcoin market, 0-100 is often used to indicate fear and greed sentiment.
Zero means “extreme fear,” while 100 means “extreme greed.” When investors become “too greedy”, it means that the market will adjust, and when the index points to “extreme fear”, it illustrates that investors are too worried, but it also indicates that it is a good opportunity to buy bitcoin.
Smart investors can accurately identify market signals and seize every investment opportunity. This big drop may also bring comparable opportunities.
The Best Time to Bottom out Bitcoin
In November last year, the price of bitcoin was $68,000, while the current price of bitcoin has fallen to $30,500. If you buy now, the cost will be 123% lower than before. It is actually the best time to enter the crypto market now.
In the big fall market, professional traders have practiced their trading strategies in simulated trading, and chose the right trading tools, and helped themselves maximize profits.
The 100x leverage provided by Bexplus will surely be a necessary help. 100x leverage allows traders to trade $1 as $100, at the same time, traders can also get all profits brought by the $100.
Assuming we use 1 BTC to open a long contract when Bitcoin is trading at $30,000. When the price of Bitcoin increased to $35,000. The profit will be ($35,000 – $30,000) * 100 BTC / $35,000 *100% ≈ 14.2 BTC, making the ROI 1420%.
Know More about Bexplus
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