Over the past 30 days, the Bitcoin market has grown by more than 35.0%. On November 6, the market broke through the previous historical high of over $73,000. Currently, the Bitcoin price is still nearly 30.95% higher than the historical high in mid-March. Recently, from November 23 to 26, the market fell by 6.92%—this was the first significant correction since November 5.
The question troubling Bitcoin enthusiasts right now is: 'Is it too late to enter BTC?' Let's analyze the situation and understand the best strategies investors can consider at this stage. Are you ready?
Bitcoin bull-bear market cycle indicators: what does it mean
CryptoQuant's Bitcoin bull-bear market cycle indicator shows that the BTC market has not yet entered the extreme bull phase. This means there is still growth potential in the Bitcoin market.
Historical declines of Bitcoin during bull markets
It is not uncommon for the BTC market to experience corrections during a bull market. During the bull market in 2017, the market experienced a drop of nearly 22%. In 2021, the market experienced corrections of at least 10% to 30%. This year, the market has experienced corrections of 15% to 20%.
Experienced traders view corrections as opportunities to enter the market at lower prices.
BTC buying strategy using the realized price of short-term holders
CryptoQuant experts recommend buying BTC based on the average cost basis of short-term holders. The rationale behind this advice is that the realized price of short-term holders is a key support level during a bull market.
The surge in open contracts brings BTC buying opportunities
Price increases attract speculators to bet, thereby increasing positions. Experts point out that when speculators close their positions, prices tend to fall, providing buying opportunities for investors.
Analyze Bitcoin net recipient trading volume to find entry points
The Bitcoin net recipient trading volume (24HMA) chart shows that the net recipient trading volume index is still below $30,000,000. Experts point out that a net recipient trading volume below $30 million indicates that selling pressure has peaked. They believe this is a golden opportunity to enter the BTC market, as they think it creates room for a potential price rebound.
In summary, the bull market for Bitcoin provides both growth potential and strategic entry points.