The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by the HitBTC exchange.[1]
Recommending investors to sell[2] their Bitcoin in December[3] of last year was against the general consensus, especially considering the lofty numbers that we were seeing back then. Similarly, telling investors to buy Bitcoin now, during sharp declines and in batches is against the prevailing negative sentiment.
Can we pinpoint the exact top and bottom? Definitely not.
But, the readers who followed us and sold close to the highs were spared this scarring bear market. Similarly, readers who start building a position now will not miss the boat when the next bull run begins.
We are noticing that while the retail investors are turning away from cryptocurrencies, larger - mostly institutional - players are showing greater interest in entering this space.
The latest such player to jump onto the cryptocurrency bandwagon was the hedge fund billionaire Steve Cohen who has invested[4] in a new hedge fund, Autonomous Partners, which in turn invests in cryptocurrencies and blockchain-related companies.
It is worth noting that the institutional players did not enter the market when the price were at their highest points. They waited patiently for the fall and began investing in the past few weeks. This shows that they find value around the current price levels.
Let’s look at some critical levels that the investors should keep an eye on both on the upside and the downside.
