A cryptocurrency analyst and trader under the pseudonym Rekt Capital said that the 15% drop in Bitcoin price that has occurred recently is just the beginning of the journey. In the short term, the price of the asset may collapse by another 20-30%, the expert believes.
According to the analyst, historically, in each growth cycle of the first cryptocurrency, there are from two to four strong corrections:
As Bitcoin’s bullish cycle further develops, corrections may become sharper, but less durable, the anonymous expert assured. If now the fall can last for several weeks, then closer to the peak of the cycle, collapses of 30% can be completed in one week, the trader said.
Rekt Capital said that the most favorable opportunities for acquiring cryptocurrency usually form during the first and second corrections of the bull cycle, and the third correction carries increased risks with lower potential profits.
Previously, the author of the book on finance “Rich Dad Poor Dad”, businessman and crypto enthusiast Robert Kiyosaki said that it is never too late to start buying your first cryptocurrency – no matter how high its cost.
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Source: Cryptocurrency
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