Išpardavimas kriptovaliutų rinkoje nustūmė didžiausios kriptovaliutos kainą žemiau 20 XNUMX USD ribos. Dabar Bitcoin [BTC] returns back to the $21,000 range, providing some relief to the investors.
But the question remains, can the bulls keep the momentum going?
A potential rally in the works?
Different Bitcoin holders seem to have entered a kapituliacija phase. Many even fear the end of the cryptocurrency reign. Consider this, the “Bitcoin Dead” searches on Google palietė an all-time high over the last weekend. Aleksas Krugeris, a famed economist, in a 20 June tweet highlighted this stat.
Savaitgalį „Google“ paieškos „bitcoin dead“ pasiekė visų laikų rekordus. pic.twitter.com/oDXNqGEeIL
- Aleksas Krügeris (@krugermacro) Birželio 20, 2022
Nonetheless, such rock-bottom sentiments tend to bring out a potential rally. On-chain data provider Santiment išreiškė nuomonę,:
“Bitcoin’s plummet to $17.7k this weekend brought out the most discussion related to the #1 market cap asset in 2022. We often see major price reversals correlate precisely with high social volume rates, and $ BTC has jumped +15.8% since.”
Here’s a graphical representation- BTC reaching the $17.7k mark caused the largest amount of BTC discussion of the year.
Šaltinis: „Santiment“
As past bore the witness, the low and negative sentiment could inject a potential rally as whales tend to accumulate.
On-chain analytics resource Whalemap, meanwhile, highlighted the dip-buying by major investors at levels below the seminal $20,000. This could become a great short-term support for the flagship coin.
Per savaitgalio sąvartyną susiformavo naujas banginių lygis.
Sukaupta gana didelė, >100k BTC, ir įvyko birželio 18 d.
Prieš tai didelė dalis 2018 m. gruodžio mėn. bitkoinų pasislinko iš ankstesnio 4k dugno... Gali būti ne biržos
Atrodo kaip puiki trumpalaikė parama pic.twitter.com/rJbV26ZifG
- banginių žemėlapis (@whale_map) Birželio 20, 2022
Even analysts maintained a similar narrative around Bitcoin. “BTC is in a macro bottoming period for this cycle,” renowned trader and analyst „Rekt Capital“ tweeted.
„Kitais metais investuotojai bus apdovanoti už pirkimą čia. Tačiau daugelis vis dar laukia, kol $ BTC nukris dar žemiau, kad galėtų pirkti. Tai tarsi laukimas, kol ateis vasara, ir pagaliau lauke 33C, bet dabar tikimės 35C.
The trader, additionally, described a $20,000 BTC price as a “gift” to buyers. But, the question remains, are they going to accept this reward? Especially after witnessing massive losses.
The aggregate market has supratau over $7 billion in losses this week, with Long-term Holders (LTHs) contributing 178k BTC in additional sell-side.
Source: https://ambcrypto.com/bitcoin-investors-in-grief-can-consider-these-points-before-cutting-losses/