Haven’t You Bought In Yet? You Might Have Missed $100,000!
Haven’t you bought in yet? You might have missed $100,000!
On November 11, BTC made a very small retracement of about 5%, which approximately a drop of about $6000.
In contrast to previous retracements, this one did not mourn. On the contrary, the market calmly saw it as an excellent opportunity to increase positions. It is imperative that those who have not taken advantage yet do so as soon as possible. There is a limited window of opportunity.
There are currently two speculations about the reasons for this decline:
According to the first speculation, the bears used the panic created by Evergrande’s default to sell short. However, they only manage to reach 62100. Afterward, the coin hodler party awoke and saw the low-priced coins and rushed to buy them. Whether the coins fall or not doesn’t matter.
The second kind of speculation is derived from the market analysis. Since the end of September, BTC has risen by nearly 30,000 US dollars. Even though there have been some small retracements before, none of them were large enough to hit 70,000 USD. The key pass is unlikely to be achieved overnight, so when it reaches 70,000, a retracement will take place.
Both arguments are competing against each other.
However, as soon as the retracement had ended, the market was again stimulated by its greed. On November 11, the panic and greed index was 77 (75 yesterday), and the level switched from greed to extreme greed. The panic index threshold is 0–100, including indicators volatility (25%) + market trading volume (25%) + social media popularity (15%) + market research (15%) + Bitcoin in the overall market (10%) + Google trending word analysis (10%).
According to some other data channels, the public is still very confident about raising Bitcoin. In terms of long and short, the majority of people are expecting a rise.
From the perspective of inflow and outflow, BTC continues to be strong. Within 7 days, it has continued to flow in, while ETH has continued to flow out. Preliminarily, it appears that users are selling ETH and converting them back to BTC.
According to the contract market last night, most of the exchanges saw capital outflows, mainly to stop losses.
Therefore, the BTC retracement is a healthy one, rather than an indication of an end to the bull market, as the bull market is still intact.
Furthermore, when the market fluctuates, it is a great time for contract players. We are encouraging everyone to trade contracts with BigONE Futures. BigONE Futures is currently holding a trading volume boosting event. Simply open a Futures transaction to receive 5 USDT without any threshold, as well as advanced rewards. Yes, the advanced rewards are based on the total trading volume of a person during the event week with a maximum reward of up to 100 USDT.
Let’s think about it, while you enjoy the benefits of market volatility, you can also take part in the BigONE Futures event making yet another profit. What a wonderful prospect!
