Here's how Bitcoin investors feel three days after the crash on September 7th.

Following the events on September 7, the majority of the market's cryptos recovered fast and returned to their prior price levels. With the exception of Bitcoin, most. On the price charts, there has been some resistance recently, which is why the king coin has yet to reach $52k. The bigger concern, though, is what will happen to the investors. Because they suffered big losses during the downturn.


Was this a factor in their decision to sell, and if so, how is the sluggish recovery influencing investor sentiment?

Bitcoin investors are still optimistic.

While selling was prevalent on the day of the crash, the market is currently witnessing purchasing as the dominant pattern. At the time of publication, Bitcoin appeared to be battling to break the $47k barrier. Investors, on the other hand, have become substantially more bullish than they were previously, so this hasn't demotivated them.

Its repercussions can also be seen on the market, as the exchange balance has dropped to its lowest level in three years.

At the same time, withdrawals from exchanges reached their greatest level in a month. Over 2,500 BTCs have been removed from exchanges in the previous week.

The social trend of "buying the dip" played a significant role in this. This trend primarily prompted investors to enter the market, as the number of social tools tracked for this phrase reached a four-month high. In reality, at the time of writing, the indicator had returned to its May levels.

Was it a good idea to buy?

In truth, it was the best decision I could have made. This turned out to be a wise decision on their part. After falling into losses yesterday, the market has recovered back into profit. There were those who sold at a loss, but there were also those who bought at a discount and are now profiting.

Furthermore, as it touched its monthly bottom, the Price DAA Divergence identified this as a strong buy signal. This was the ideal time to buy BTC off the market as the price dropped and the number of active addresses surged.

In addition, the majority of the addresses are still profitable. The 4 million addresses that accounted for the 10% drop (the ones that suffered the largest losses) are steadily returning to profitability.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

CEO of Messari: "Bear Markets Are Good for Cleaning House."

 Although most of the crypto industry has had a difficult winter, Messari CEO Ryan Selkis believes that a little austerity will be good for ...

counter, at the bottom of the page, in a table, div or under a menu.