Overview of the Latest Developments
• Over $62 million in long BTC positions were liquidated in a matter of hours.
• This was the third liquidation cascade within the last 12 months.
• Bitcoin price dropped to around $22,000 in a very short time.
How to Proceed Now?
Forecasts are extremely difficult as some talk of an oversell while other investors see a potential for a new entry with positive signs on the US stock market. Analysts see both positives and negatives that can affect price and investors should follow developments closely and adjust their investment decisions accordingly.
Correction with a Short Shock?
Despite the recent price correction and negative headlines, the fundamentals of Bitcoin network remain stable as its hash rate continues to rise and active addresses on the network have also increased significantly.
Investment Advice for New Investors
For new investors in the crypto market, it is advised to invest with Bitcoin shares rather than larger amounts of money with whole Bitcoins due to volatility of markets.
The situation for Bitcoin course will remain uncertain in the coming weeks and months so it is important for investors to stay updated on all developments related to markets, networks and prices before they make any decisions regarding their investments.