The leading cryptocurrency Bitcoin (BTC) and altcoins have experienced consecutive sharp declines in recent weeks.
As US President Donald Trump’s move to buy XRP, Solana (SOL), and Cardano (ADA) has revived the market, CryptoQuant analyst shared his simple yet historically proven Bitcoin buying strategy.
Using the “Shopping Area” metric, the analyst claimed that when this metric enters the 1 or 2 area, it is an ideal time to accumulate during the bull phase.
The analyst stated that during periods when the Bitcoin price dropped by 15-20 percent, the Shopping Area metric also dropped to the 1-2 area, and that it has historically been profitable for investors to buy during these periods.
Although the analyst stated that this metric has historically worked in Bitcoin, he warned investors by stating that there is no guarantee that the same situation will occur this time.
“When Bitcoin enters Trading Area 1 or 2 (15-20% price drop), it has historically been a great time to accumulate during the bull market phase.
Why it works: These levels are historically proven accumulation zones. Ideal for taking advantage of market overreactions.”
*This is not investment advice.
Continue Reading: Is It the Ideal Time to Buy Bitcoin (BTC) and Altcoins? This Indicator Has Given a Signal!
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