Why the current level is acceptable for opening a position in the first cryptocurrency Bitcoin
On January 24, the price of bitcoin for the first time since July 2021 fell to $32.9 thousand. As of January 26, the cryptocurrency is trading at $36.5 thousand. The asset has risen in price by almost 5% per day. it is worth buying bitcoin now and how best to do it.
The fall will continue
Bitcoin has not reached the bottom at the moment, the fall of the stock and cryptocurrency markets may intensify against the backdrop of exacerbation of geopolitical differences between the United States and Russia.
Even if the confrontation does not escalate, the markets are under pressure from the prospect of a Fed rate hike – the next one in March.
That is, in the medium term, there are no factors for the growth of bitcoin and other coins
In connection with the current situation, recommends starting to buy bitcoin when its value is as close as possible to the $30,000 mark or breaks through it. the portfolio and allocating no more than 10-30% for cryptocurrencies.
Possible “sideways”
The rebound of bitcoin from the $33,000 zone indicates a possible attempt to stop the fall of the market and enter the phase of a “sideways” movement, in the near future, the cryptocurrency can be traded in the range of $34-36 thousand. bitcoin could not hold support in the region of $34 thousand and drop to $30 thousand.
I would recommend averaging on a fall, which means lowering the price of entry into a position in order to exit the market in profit, not in loss. This is achieved through progressive purchases
you can start buying bitcoin now, but do it for a small amount in order to be able to average the position in case of a possible fall in the value of the asset.