Ni ZyCrypto - 1 ka tuig ang milabay - Oras sa Pagbasa: 2 minuto
"Dili Pa Panahon nga Maghinamhinam Na", Gipahimangnoan ni Pundit Bitcoin Mahimo pa nga atubangon ang mas lawom nga pagtul-id
Scott Melker, the host of The Wolf of All Streets podcast and crypto trader, has cautioned investors against getting too excited by Bitcoin’s recent pump, suggesting that the crypto asset could still ihulog sa ubos.
In a newsletter to more than 800k Twitter followers, the pundit attempted to measure the asset’s “possible bottom” by illustrating five of the worst Bitcoin corrections in history. These included the Nov 2013 – Jan 2015 (-86.9%); Dec 2017 – Dec 2018 (-84.12%); Apr 2013 (-82.65%); June 2019 – Mar 2020 (-72.26%) and the April 2021 – June 2021(-55.95%) bear markets.
According to him, considering Bitcoin’s price has dropped by approximately 76.59% in the past year, it would have to drop another 48.84% to reach April 2013 bear market levels. This would mean $220B, or half of the current Bitcoin market capitalization, being wiped from the market, which he said was “unlikely”.
“Alang Bitcoin to go an inch lower than the current bottom at $15,800, it would need to drop 31.2% from current levels. Still a sizeable drop.” Siya midugang.
Dili kaayo paspas
The pundit warned investors against getting too excited, commenting on this month’s pump, urging them to drop the “Bitcoin up only” assumption.
"Bisan pa, sa akong hunahuna dili pa kini ang panahon nga maghinamhinam. Naa pa lang kami sa una nga bulan sa tuig ug nahibal-an namon nga moabut ang mga pagtul-id ug nga ang labing kadaghan nga mga rally kanunay nga moabut sa mga merkado sa oso, " ingon siya.
Niadtong Enero 25, Bitcoin surged as high as $23,800 before tracing its move to settle below the $23,250 resistance.
Sumala sa Melker, kana nga pagsukol mahimong usa ka lisud nga babag alang sa presyo, nga adunay usa ka halapad nga pabilo sa 4-oras nga tsart nga nagsugyot nga ang lugar usa ka "pagkakuha sa likido alang sa mga shorts".
"Mopadayon ako uban ang pag-amping," iyang namatikdan, nga nagpasiugda nga gamay ra ang mahimo gawas kung ang mga kandila magsira sa ibabaw o ubos sa pagsukol. "Bisan dili kini mahitabo, nangita gihapon ako og pagtul-id," nipadayon siya.
Bitcoin’s Resilience Is Improving
Melker noted that Bitcoin had become more resilient over the years, considering the sheer number of catalysts and mga panagsangka nga may kalabotan sa merkado behind its drop compared to other bear markets. He also noted that the pioneer cryptocurrency had attracted a floor of die-hard believers who would increasingly make it harder to drive Bitcoin’s price drastically by offering adequate liquidity.
Sa iyang mga pulong;
"If we are being honest with ourselves, we should feel lucky if Bitcoin does not drop more than it did in 2017...The catalysts for this current correction are far more serious. This proves that Bitcoin is strengthening over time and will probably continue to soften its gains and losses in each cycle.
Sa oras sa pagpindot, Bitcoin (BTC) was exchanging hands at $23,181, up 0.61% in the past 24 hours.
Ang orihinal nga tinubdan: ZyCrypto