Why did the BTC fall? It's been a record-breaking fall lately.
The first reason is the fall of world financial markets against the background of the consequences of the virus, closure of companies in China, restrictions on international trade, Saudi Arabia's oil policy.
The second reason is a large number of liquidations and stops. The more they close at the market price, the more the market sells lower and lower, and this is all increasing in a snowball. You've already seen the numbers on the channel recently.
The third reason may lie in the fact that the PLUSTOKEN project, which according to some reports owned more than 1% of all Bitcoins, began to actively sell everything they had.
Who benefited from this?
Naturally, the crypto exchanges made a lot of money on liquidation. Margin trading is one of the main sources of their earnings on traders, your liquidation is their gain. They have earned enough money to share a piece with you. We'll talk about that a little bit later.
Also, these exchanges have prepared a good entry point to the market for large capital.
Now I see that many people are looking for an opportunity to invest in cryptocurrency against this background, people think they have found the bottoms.
Practice shows that the market does not give such simple opportunities to the main crowd. I do not think that this time will be an exception, there is a high probability that the fall will continue.
Many important support levels have been broken. This is a long hurdle trend line, this is the weekly MA200.
Hold on, anything can happen. There's going to be a storm soon.
But for our project, it's not an obstacle. I'll buy back all the levels that the market will offer us.
What can we wait for? Active accumulation zone are shown on the chart.
@Amjadsid, 4K not going to happen, period. 10 000 USD within next few months a lot more likely.
Rabea666
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@ProjectSyndicate, don't be so very sure... it may go up to 7.3/8.3 yes I agree BUT why not 4k too.. before that every1 was no way to see 5k and now we seen 3.6k again! SO don't be very sure and always be flexible.