🎉 Gate.io Growth Points Lucky Draw Round 🔟 is Officially Live!
Draw Now 👉 https://www.gate.io/activities/creditprize?now_period=10
🌟 How to Earn Growth Points for the Draw?
1️⃣ Enter 'Post', and tap the points icon next to your avatar to enter 'Community Center'.
2️⃣ Complete tasks like post, comment, and like to earn Growth Points.
🎁 Every 300 Growth Points to draw 1 chance, win MacBook Air, Gate x Inter Milan Football, Futures Voucher, Points, and more amazing prizes!
⏰ Ends on May 4, 16:00 PM (UTC)
Details: https://www.gate.io/announcements/article/44619
#GrowthPoints#
#MarketBottomPrediction#
While Bitcoin's drop to $80,000 may sound crazy, it's not surprising given the market volatility. Investor psychology is changing rapidly, especially when major events such as strategic reserves and regulatory changes come into play. So, is this the bottom, or will we see a further decline?
First of all, it is necessary to look at the liquidity levels of the market in such drastic movements. If the major liquidation levels are concentrated in the 75,000-78,000 band, the price can take a pin to these levels and recover. However, if volume is weak and selling pressure continues, we could see a sag towards 70,000. It may be too early to talk about a definitive bottom right now, as the actions of whales and institutional investors will be decisive.
How do I act in such a scenario? First of all, I don't FOMO on sudden drops and buy right away. First, I would wait for the price to form a certain support. For example, if BTC holds at the 80,000 level for a few days, supported by volume buying, I can consider a gradual buy from here. However, if the decline continues, I would be on the lookout for levels like 75,000 or even 72,000.
My own strategy is usually based on regional procurement. That is, instead of investing all the capital at once, I enter gradually as the price reaches the levels I set. In addition, I avoid taking unnecessary risks by setting stop-losses. Especially in volatile markets such as crypto, it would be a big mistake to trade without a protection mechanism.
As a result, it is too early to say whether there is a clear bottom at the moment. However, the 80,000 levels should be watched carefully. If we see upward momentum from here, it could be a reversal signal. Otherwise, it is useful to be cautious against the possibility of a deeper correction.