There was a serious crash in Bitcoin. As we expected, it dragged altcoins with it. In fact, we wrote that the $42K level is an important support for Bitcoin and if this is broken, the decline will continue. This happened on May 19. 2021, and it took us all by surprise how far-reaching the decline was. We can say that this decrease is also an important decrease for the history of crypto money.
There are three things that those at a loss can do in this process. We’ve been saying this for a very long time. The risk of admitting harm is high. But when you accept the loss and exit, maybe you can take it from the bottom and increase your profit rate. The worst part of accepting the loss and trying to get to the bottom is not being able to catch the bottom. Then you come out with a loss and miss the possible rise. Because after every dip, we most likely see a jump.
As a second option, you can wait for the decline to stop and the market to rise again without making any moves. Adding funds can also be a solution. As a matter of fact, we understood better today how important it is to leave funds.
In the last 24 hours, the amount of liquidity in the markets, that is, the amount of money lost on the margin, is over $ 8 billion. We’re under $40,000 right now. It has been at this level for a while. In fact, we can call it “the recovery phase after the big fall”.
So, how long will the recovery process take? Most analysts are forecasting for mid-August. They think that those who have been patient and careful until that date will come out of Bitcoin’s crashing process unscathed.
So, how long will the recovery process take? Most analysts are forecasting for mid-August. They think that those who have been patient and careful until that date will come out of Bitcoin’s crashing process unscathed.
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