This Weekend's Crypto Sell-Off Is a Buying Opportunity, History Suggests
The last time global capital markets melted down like this was March 12, 2020—the day the world realized that Covid was a big deal.
Recent market developments have seen Bitcoin's price drop below $53,000, sparking concerns over a further decline to under $47,000. However, some traders may view this as a prime buying moment, considering Bitcoin's potential to rebound after such drastic drops during bull markets.
Meanwhile, traders are keeping an eye on a major trading firm's actions, as its large transfers of ETH to exchanges could be a prelude to liquidation activity. This news comes amid regulatory investigations into the Terra Luna case, where such activities have drawn criticism.
Goldman Sachs has also revised its recession probability прогнозы, increasing the likelihood of a recession within the next year by 10 percentage points to 25%. However, they still anticipate a benign outcome with limited overall risks. This adjustment is based on U.S. economic data, which shows stability, and the Federal Reserve's willingness to support the economy if needed, including potential rate cuts later this year.
Matt Hougan, CIO at Bitwise, sees this market sell-off as a buying opportunity, highlighting Bitcoin's resilience after the Covid crash. He notes that traders must now decide if they fear a further drop to under $47,000 or anticipate a rebound after such a drastic drop during a bull market.
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