- BTC crashes down to $35K .
- High possibilities for further downfall.
- Buying at dip remains controversial.
The Bitcoin (BTC) has been plunging down for the past two days. The epic downfall of nearly 15% occurred within hours after the increase in tax revenues upon BTC and crypto by the Federal Reserves.
Despite BTC’s great efforts to touch its $40K safe trademark, BTC failed miserably touching down to $35K abruptly. Even now, the price remains the same at $35K, currently at a price of $35,997.51, with the graphs still down by 1%, for the past 24 hours.
Indeed, the whole crypto market has been down for the past two days, not only the BTC. Likewise, Ethereum (ETH) and most of all the prominent altcoins are down by different ranges.
Many determine that BTC will come down furthermore. On the other hand, many also term that BTC will surge up drastically. Whatsoever, the year 2022 has not been so kind and generous to BTC so far.
Is BTC Fully Bullish Ahead?
Accordingly, analysts term that from this downfall, BTC will be surging up drastically and that the surge will be more standard and solid. Moreover, the graphs and certain charts depict the same with constant linear growth of BTC.
In addition, certain predictions reveal that BTC ought to dive further down to the rock bottom price of $30K. From this point, BTC is expected to soar upwards from the breakpoint of $30K.
Will #Bitcoin bounce from here? pic.twitter.com/S2XDdIuHUz
— Crypto Rover (@rovercrc) May 7, 2022
However, controversy remains on whether to buy BTC currently at such dips! The real question is will it be profitable and worth the value in buying BTC currently. Since the start of the year 2022, the confidence and trust people had upon the BTC are on the decline.
Therefore, looking for a long hold, buying BTC now may sound fair enough, whereas, for day-to-day trading, everything is up to one’s risk!
