Bitcoin price is expected to drop even further before rising again, says trader MoneyZG. He believes that now is a great chance to get in on the buy side and thinks it will go all the way down to the 200-week moving average before starting to turn things around properly.<\/p>\n
According to MoneyZG, right now Bitcoin is firmly priced in a sweet spot for buyers\u2014which has to be attractive for investors who are in it for the long haul and looking for value. He believes that this zone represents a pretty low point in terms of relative value for this asset, and when you compare it to the really low points we’ve seen in past bear markets\u2014like that $15,000 low and $60,000 cycle highs\u2014you start to see a pretty strong case for a potential bounce. That being said, MoneyZG also warns that the immediate outlook still looks pretty dicey, and he thinks there’s still a good chance we’ll see more declines before things start to turn around.<\/p>\n
MoneyZG’s analysis is rooted in the current state of the Bitcoin market\u2014which in his view is a long way off from where the market was during those earlier crises. The fact that we’re seeing higher price levels and a market that’s much more resilient than it once was just leads him to believe that Bitcoin’s long-term trajectory is pretty much set\u2014even if we get some temporary speed bumps along the way.<\/p>\n
A major part of MoneyZG’s approach to investing in Bitcoin revolves around his reliance on the 200-week moving average\u2014a technical benchmark he points to as a good time to get into the market with a significant buy. He advises people to be patient and wait for the price to get close to that 200-week level before committing big\u2014he believes that by doing so you can avoid getting caught up in emotional decisions and increase your chances of coming out on top in the long run.<\/p>\n
MoneyZG also stresses that checking out the long-term patterns of a particular asset and where it currently stands in relation to its growth trendline is key to making decisions about whether to buy or sell\u2014something that becomes especially important in volatile markets.<\/p>\n
MoneyZG emphasizes just how much of a long-term attitude you need when investing in Bitcoin\u2014acknowledging that those times you see the price dropping will put even the most committed holders to the test. He’s hopeful that a continued slide down toward the 200-week moving average will make Bitcoin a more attractive proposition to newcomers to the market, as well as giving those who are already invested a chance to solidify their positions.<\/p>\n
Unlike past market downturns, the current situation is marked by far greater maturity and a higher price baseline to draw on\u2014a combination that MoneyZG thinks will be an advantage for Bitcoin when this downturn finally runs its course and the market starts to turn upwards again. He suggests investors step back and look at the bigger picture rather than get caught up in the day-to-day, and to show some resilience through the natural ups and downs of the market.<\/p>\n
Source \u2014 MoneyZG: https:\/\/www.youtube.com\/watch?v=WhlIdh_IXHI<\/a><\/em><\/p>\n <\/p>\n