BITCOIN PRICE UPDATE: WHERE IS THE PROBABLE BOTTOM OF THIS CORRECTION?
The current bitcoin record high currently stands at $19,800. Since hitting that high, bitcoin has been on a major correction, falling to around $10,000 where it is currently. But where is the bottom of this correction and where would it be safe to buy the bitcoin again? Well let's try to predict that?
As shown above, bitcoin price seems to be respecting the converging triangle. A break out from this trend line will signal an end to this correction. In the main time, prices seem to be falling and is expected to fall to around the $8500 mark which in my opinion is the best time to buy bitcoin to HODL. SO for newbies looking forward to buy bitcoin, you can wait until price reaches around $8,500 which is indicated by the location symbol in the chart above. Good luck
I hope it does go down to $8,500 or thereabouts. Been wanting to acquire some more bitcoin for a while now but its been a bit expensive up until the last few weeks. Hopefully after this low we will start to see a decent upwards trends again. Those who thought it would stay at $20,000 or go higher were kidding themselves.
Have heard a lot of horror stories the last few days about noobs selling off at these lows and losing thousands if not millions. Bitcoin is awesome as is crypto but if you don't know what you are doing it will eat you alive.
Yea...you right. Part of being a successful bitcoin trader is timing your enteries....
I been waiting for almost a month to buy it again.
A little patience is all that is required