Bitcoin

when

While the unprecedented decline in Bitcoin makes investors nervous, analysts think that this decline offers a buying opportunity.
At this point, Bitwise CIO Matt Hougan said that he saw the severe selling wave in crypto/stocks over the weekend as an opportunity to buy Bitcoin.
Commenting on the decline from account X, Matt Hougan said that the recent crypto market sell-off, which coincided with the global capital market crash, presented a buying opportunity for investors.
Comparing the recent market crash to the “chaos” day on March 12, 2020, Bitwise CIO pointed out that March 12, 2020 paved the way for cryptocurrencies to reach historic new peaks in the following months.
<blockquote>
 “History shows that this weekend's sell-off is a buying opportunity.
 Note: It is not investment advice. Just my opinion.”
</blockquote>
<h2 id="bitcoin-s-fall-date-offers-a-buying-opportunity">Bitcoin's Fall Date Offers a Buying Opportunity!</h2>
Stating that most crypto investors, including himself, have feelings of anger and pessimism, Hougan said that beyond these feelings, he sees especially “Opportunity” in BTC and crypto.
According to Hougan, who stated that he has seen this sharp decline before, historical data shows that Bitcoin and the crypto market will probably recover and trend higher in the long term.
“The last time global capital markets melted like this was March 12, 2020. Maybe you have erased it from your memory, let me remind you: It was complete chaos.
Among all assets, Bitcoin fared the worst, falling 37% from $7,911 to $4,971.
We erased a year's gains in 24 hours. I honestly felt like we would never heal.
Predictably, the media claimed that Bitcoin had failed as a hedging asset.
But March 12, 2020 was not the time to panic. This was the best buying opportunity for Bitcoin in a decade.
I see the same situation today.
This weekend, hard macro news (Japan, Israel/Iran) combined with rough crypto news (Jump Trading) on a low liquidity weekend and there was a pullback.
But we should not be surprised and we should not be afraid. The same situation occurred during Covid, during the eurozone crisis in 2010 and in 2008.
Historically, when we see this type of global economic panic, crypto initially declines but rebounds much higher a year later.”
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitwise-said-bitcoin-offers-a-historical-buying-opportunity-and-explained-the-reason-with-examples/" rel="noopener noreferrer nofollow">Bitwise Said "Bitcoin Offers a Historical Buying Opportunity" and Explained the Reason with Examples!</a>

Bitwise Said "Bitcoin Offers a Historical Buying Opportunity" and Explained the Reason with Examples!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Aug 6, 2024

More Trouble For Crypto Market: Arthur Hayes Predicts Second Wave of Market Crash

US Commences $50B Treasury Buyback, 50 bps Fed Rate Cut Odds Surge

Polymarket Records Increased Activity from Investors

Do Kwon to be Extradited to South Korea: Montenegro Court Upholds Decision

Crypto's Largest Dip Since FTX Collapse Sees Limited Reaction

Crypto Market Recovery: Top Four Altcoins For 15-30X Gains

Join our free newsletter for daily crypto updates!