This week, Bitcoin's price dropped to a new three-month low due to various factors. Experts warn about a potential bear market and discuss possible entry points for buyers.
Bitcoin's Decline and Reasons
Bitcoin fell to $82,000, marking a new three-month low. It occurred after a sharp decline from near $100,000. Major reasons include the largest hack in the industry and controversial economic approaches in the U.S.
Analysts' Take on the Bear Market
Analyst Ali Martinez points to bearish divergence on the RSI chart, potentially signaling the start of a bear market. He asserts that historical market behavior supports this assessment.
Potential Opportunities for Buyers
Despite many investors being underwater now, analysts argue that the best buying opportunities occur when the realized loss margin exceeds 12%. Currently, the metric stands at 8.25%, indicating further price fluctuations might occur.
Analysts caution investors about the potential continuation of the bear trend and recommend caution when exploring possible buying opportunities.
