Bitcoin (BTC) market witnessed a small recovery over the past 24 hours after a fairly Baissian trade week. After a flash crash to $ 91,000 on February 3, market analysts continue to speculate if Bitcoin found a local bottom and finally switches for an rise. Interestingly, Kryptoekspert Ali Martinez has shared some marketing views that may prove to be valuable to this discourse.
Here is the best time to buy bitcoin – analysts
IN An X post On February 7, Martinez revealed the optimal entry terms for investors who want to get Bitcoin right now.
Using data from CryptoquantThe analyst notes that the realized price for all BTC acquired over the past 1-3 months amounts to $ 97,354. This data suggests a <1% market loss for traders, which is considering that bitcoin is currently valued at about $ 97,000. Martinez, however, warns that the most favorable queue positions for BTC have historically come when traders have a loss of 12%. Therefore, the Bitcoin market with an average loss of <1% may not constitute the ideal state for new participants as there is still a strong potential for further price corrections.
Martinez’s observation suggests that Bitcoin is probably far from a local bottom despite the latest price decreases. Based on the historical tasks presented, the next local bottom for BTC would be about $ 85,600, which would present the ideal accumulation zone for investors who strive for significant profit margins. However, it is worth noting that the existence of new variables such as strong institutional interest and the companies’ accumulation of BTC marked Spot ETF inflows could prevent the main Cryptocurrency from dipping as low as previous cycles to start their next hausse swing.
BTC market overview
At press time, BTC continues to trade at $ 97,020, which reflects a price increase of 0.75% on the past day. Crypto flagship access registered a 2.70% decline over the past week; However, monthly profits remain by 3.76%.
According to the market’s prediction, CoinkodostInvestors are currently uncertain with the Fear & Greed Index that stands at 44 (fear). However, analysts at CoinCox Back Bitcoin to soon rediscover their haus -like form despite its ongoing range -bound movement.
Their short -term predictions project BTC to return to $ 106,613 in five days with the potential to trade as high as $ 129 434 next month. For long -term goals, they predict an increase to $ 158,992 in three months. With a market value of $ 1.92 trillion, Bitcoin continues to be ranked as the largest crypto supply with a 60.6% market dominance.
Image from Shutterstock, chart from TradingView
