Is it the bottom or the mountainside after the big drop? The long and short forces staged a tug-of-war!

On July 5, the cryptocurrency market ushered in another big drop, and BTC once fell below $53,500. As of writing, BTC has risen to $58,450. But whether it is the best time to buy the bottom now, only the hand behind the market knows.

Whenever the cryptocurrency market has a deep correction, there are always long and short divergences in the market, and a lot of noise affects investment judgment. But the biggest difference between this decline and the past is between Bitcoin and competing coins.

At the beginning of the bear tail bull market in October last year, BTC fluctuated at $25,000, and then rose all the way to $73,777. At present, BTC has fallen by about 27.5%, but most competing coins have wiped out the gains and fallen to the starting point of this round of market

There have been 6 30% declines in the bull market in history, and it is recommended to buy on dips. Because this decline is about 26%, in fact, the recent decline is not large.

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BTC is expected to rise to $150,000 after the Mt.Gox distribution is completed. One of the biggest negatives will disappear in July, which I think is a reason to expect a sharp rebound in the second half of the year.

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