Every drop is a spectacle, every rise a revelation in the crypto universe. For Quinn Thompson, investment director at Lekker Capital, Bitcoin's recent 6% drop is not a simple swing, but a strategic opening. While the volatility makes some tremble, others, like Thompson, see a unique opportunity to buy before the next rally.
A fall that challenges previous models
At first glance, the sight of Bitcoin plunging by 6% might be discouraging to newbies. However, Thompson, with his experienced analyst's nose, sees in this movement a clear break from the usual trends.
What he calls a âclear reversalâ of past patterns shows that this correction is not like the others. Bitcoin is currently trading around $61,000, a figure that, for some, might evoke caution, but for others, represents a wide-open door to accumulating more #BTC.
A global context that plays in favor of Bitcoin
Beyond simple charts and technical trends, the Bitcoin market also reacts to world events. Geopolitical tensions, especially in the Middle East, have caused a wave of uncertainty in traditional markets.
As Iran escalates its military actions against Israel, investors are nervous and risk assets such as Bitcoin have temporarily wavered. However, this volatility should not be interpreted as weakness, but rather as an opportunity for those who know how to read between the lines.
Geopolitical crises, however disastrous they may be on a human level, often have a paradoxical effect on markets.
Safe haven assets such as gold are soaring, but Bitcoin, as an emerging store of value, could follow suit as the crisis deepens.
Concerns about the US economy and political stability ahead of the election add an additional layer to this complexity.
Many investors are beginning to question the soundness of traditional assets, which could play in favour of Bitcoin, perceived by some as a hedge against inflation and economic turmoil.
Maksim Balashevich, founder of Santiment, shares a similar view to Thompson. He notes that mentions of âUptoberâ â a nickname given to the month of October for its historic increases in the cryptocurrency space â have declined on social media.
This could mean that investor enthusiasm is waning, a perfect condition for an unexpected rally. As the saying goes, itâs when everyone is leaving that itâs often time to buy back in. Some are hoping to see a supercycle for the bitcoin price.
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