#BTC How low will it fall before it stops?

Although Bitcoin performed well in early July, it was subsequently hit by multiple events and encountered significant selling pressure, causing its price to fall sharply.

Among them, although the German government sale and the Mt. Gox refund incident are the main influencing factors, the focus has now turned to the limit of Bitcoin's decline.

Basile Maire, co-founder of decentralized exchange D8X and a former UBS executive, asserted in an interview with Decrypt:

The probability of Bitcoin falling below 50,000 is not high.

He also pointed out that current options trading activity is mainly concentrated in the 50,000 to 60,000 range.

And it is closer to the 60,000 level, showing that the market is not confident about falling below $50,000.

Economists also hold a similar view, believing that although Bitcoin is under pressure in the short term, the outlook is not too pessimistic.

Data from the co-founder of D8X also supports this view. July options data shows that most options traders do not expect Bitcoin to fall below the $50,000 mark.

In addition, Justin d'Anethan, senior manager of market maker Keyrock, also analyzed:

Further declines in Bitcoin will be directly affected by the selling behavior of large institutions.

He expects Bitcoin to fluctuate within the consolidation range of $50,000 to $52,000 established in the next two months.

and emphasized that there is significant support below $50,000,

Therefore, a fall below this level is unlikely.

#ETH #WLD #SOL #ORDI

First of all, we must recognize the situation clearly and recognize ourselves!

What is the purpose of coming to this circle?

Build yourself a complete plan, when to buy? When to sell?

What to buy and what is your strategy? How to do risk control? How to do position management?