Home Bitcoin News Bitcoin (BTC) Entry Price Will Never Be $0.0008 Again

Bitcoin (BTC) Entry Price Will Never Be $0.0008 Again

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Buying in to any asset, the most important thing becomes the right entry price. With the price of BTC trending the way it is, it is becoming difficult to define the norm for investing in BTC.

Bitcoin first started trading from around $0.0008 to $0.08 per coin in July 2010. Recently, “crypto analysts and even one famous wallet investor predicted the price of bitcoin that it will cross $100,000 by 2030. This is predicated based on 2020’s value of bitcoin that was $10,723; it is expected that by 2024 its price will become #33510.”

Naysayers are now thinking about how to buy in to BTC.  Many of them who missed the profits from swing trade are also rolling up their sleeves to identify the right time to buy in to BTC.  The bullish reversal is much awaited by those who are trying to take a position before the next rally.

Anytime the price of the BTC goes down, there is a lot of discussion happening about crash and correction.

Coin desk tried clarifying by pointing to the difference between the crash and the correction.  In traditional finance, a crash is considered to be a drop in price by over -10% in just a single day. This happens by several impactful events like sudden changes in the cryptocurrency space, panic and other reasons which lead to investors exit as a mass.

Mostly large crashes are because of major changes in fundamentals, important company announcements, and major changes in regulations and policy matters. In the history of Bitcoin the “Black Thursday” crash of March 12, 2020 when the World Health Organization declared the coronavirus as a global pandemic.  The prices went down by 40%, from $7,969.90 to $4,776.59.

Before that, when the U.S. Financial Crimes Enforcement Network (FinCEN) required exchanges to register themselves as money transmitters, the prices fell drastically.

However, when it comes to correction, it is a gradual decline and the price will drop more than 10% over the course of many days. Minor events can also influence corrections. This can be anything like buyers establishing strong resistance levels, declining trading volume, and negative discrepancies.

Whether by correction or crash, being a highly volatile asset the price of Bitcoin will fluctuate significantly over a period of time. This is also the reason for why traditional investors are not sure when it comes to investing in crypto despite the big profits that many have made so far.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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