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519 tragedy market analysis
Between May 8 and May 19, Bitcoin experienced a sharp decline. Its price quickly fell from a high of about 60,000 to about 30,000, a drop of nearly half, which can be described as "halved". It is particularly noteworthy that on May 19, the price fell straight from 44,000 to 30,000, with an astonishing single-day drop. Overall, from May 8 to 19, the market experienced a huge adjustment of about 15,000 points.
The market is always full of variables. In the following two months, the price of Bitcoin gradually stabilized, and began to show signs of bottoming out around July 26, and then it went all the way up to around 68,000 points.
Market Overview of the 31 Tragedy
Similar to the 519 tragedy, from March 6 to March 11, the price of Bitcoin fell from 9,200 points to 7,800 points, a drop of 1,400 points. But on March 12, the market experienced more violent fluctuations, with a single-day plunge of 3,400 points to 4,400 points. From March 6 to March 12, the cumulative decline exceeded 50%. Fortunately, the market recovered to around 9,300 points around May 1, about a month and a half later.
Market Dynamics on July 5 this Year
In early July this year, Bitcoin experienced fluctuations again. From 63,000 points on July 1 to 55,000 points on July 5, it fell 8,000 points in just a few days. Although the decline this time did not reach the level of halving, market analysis believes that if it continues to fall, 35,000 to 30,000 points may be the next key support level.
In terms of investment strategy, I suggest adopting a strategy of bottom-fishing in batches to reduce investment risks.
In the face of market fluctuations, we should remain calm and invest rationally. It is not wise to always be passionate about all-in, but we should carefully analyze market dynamics and make reasonable investment decisions.
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