Bitcoin (BTC) market has recently experienced a small rebound, after weeks of bearish trends. This sudden shift comes on the heels of significant price drop to $91,000 on February 3, prompting analysts to debate whether or not BTC had reached its local minimum and was on track for an upward trajectory. Crypto analyst Ali Martinez provided insights into this market suggesting that ideal buying windows may still exist in some form or another.
The Ideal Time to Purchase Bitcoin, According to Analysis
Martinez advised on February 7 that investors considering investing in Bitcoin should analyze recent acquisition costs before making their decisions. He pointed out that in the last 1-3 months all BTC purchased has cost around $97,354. At its current valuation of $97,000 this represents less than 1% loss for traders; however historical buying opportunities have typically occurred when market losses average around 12% or above; so while current losses of under 1% might seem favorable now it could change with further price corrections occurring over time.
Martinez speculates that Bitcoin could find its next local bottom around $85,600, offering investors looking for substantial returns an optimal time and place to accumulate cryptocurrency. However, strong institutional interest and corporate BTC purchases via spot ETF inflows could lessen its downturn significantly and set off another bullish cycle in 2018.
