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The collapse of the cryptocurrency market this week was not exclusively negative, because, despite the fall cryptocurrencies, after the first financial crisis in its history, the bitcoin network remained stable.
Crypto markets survived the first global crisis
Despite the fact that this week we sawa strong devaluation in the cryptocurrency market, during which weak hands massively capitulated, bitcoin and other crypto assets, contrary to gloomy forecasts, did not reach zero. This is very important, given that bitcoin and cryptocurrencies appeared as a result of the financial crisis of 2008, and since then have not been exposed to a serious financial threat for 12 years.
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When #Bitcoin survives this people will know it can survive anything. It will be just another chapter in the book.
- Mr.Hodl ?? (@MrHodl) March 13, 2020
Many investors feared that this weekBitcoin will set a new low below $ 3,000, but the market has bounced off the 200-day moving average with an upper low. This means that the uptrend is still intact and cryptocurrencies are more stable than previously thought.
Satoshi Nakamoto has developed Bitcoin stable so that it can withstand the storms in the world of fiat currencies. Given the US announcement of a possible 1.5 trillion in incentive, everything goes according to Satoshi's plan.
All cryptocurrencies have become much more affordable for purchase.
Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin andothers suffered significant losses, destroying the gains made earlier this year. Warren Buffett is known for the phrase "Be greedy when others are afraid." Well, now is the time to be greedy. Since cryptocurrencies once again survived, you have a chance to buy at the biggest drop this year.
Wanna know how to get rich?
Buy cheap when everyone is scared. Then wait, and do nothing.
Sit on your hands. Smoke some cigars. Read some books. And continue to do nothing.
Sell when everyone is euphoric. Then wait, and do nothing.
Buy again when everyone is scared ...
- Bitcoin Macro (@BTC_Macro) March 6, 2020
This sale is unlikely to last long, especiallyafter panicky investors have already sold their cryptocurrencies. At the same time, the crypto-walkers remained calm throughout all the bloody days.
At the same time, many traders have increased theirassets at extremely low prices. For example, the day before yesterday, a successful trader was lucky to receive a partial filling of a LINK order for a few cents per coin - the order bought 900,000 tokens at a price of $ 0.0001, against the current market $ 2.69.
Powerful bull rallies arise after the same powerful corrections
As a rule, after each large-scale bearCorrection in the following months, we see a confident bullish rally. On December 10, 2018, bitcoin hit a low of $ 3,121; by June of that year, BTC had shown a bullish breakthrough to nearly $ 14,000.
Now is the time to open long-termpositions for the bull race after the halving, which is bound to occur. Over 80% of Bitcoin corrections were followed by huge bullish runs, raising the price to much higher lows.
The 200-day support for MA was held back, and purchases by hodlers gave a good rebound. We could re-test the minimum to form a good bottom, but it seems that the worst is over.
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