82 days ago
While the leading cryptocurrency Bitcoin (BTC) has experienced sharp declines in recent days, some investors have deepened the decline even further by panic selling. However, the CryptoQuant analyst said that the upward trend in Bitcoin continues and that he does not recommend investors to sell. CryptoQuant analyst MAC_D noted in his analysis that Bitcoin’s (BTC) short-term Output Profit Ratio (SOPR) has fallen to 0.987, indicating that investors who have held for less than six months are selling at a loss. Noting that the current SOPR rate presents a new buying opportunity, the analyst said that historically, these periods when the SOPR rate is low usually precede upward trends and are ideal for accumulation. The analyst added that apart from SOPR, key indicators such as Bitcoin’s MVRV and NUPL ratio show that the uptrend has not peaked. The analyst said that investors should think long-term because short-term investors are selling at a loss. At this point, the analyst stated that low prices are an opportunity for investors to save, and that selling at this stage is not wise. “As BTC falls, more and more negative news is appearing on YouTube and social media. This suggests that market sentiment is turning bearish. Additionally, SOPR, which indicates market sentiment of short-term investors, fell to 0.987, indicating that investors who held for less than 6 months are selling Bitcoin at a loss. Historically, when short-term investors suffer losses, the market usually moves up, indicating that it is a good time to accumulate. If we consider cycle indicators such as MVRV, NUPL, Puell Multiple and short-term investor ratio (currently 60%), apart from SOPR, we can see that the cycle has not yet reached its peak and the current correction does not signal the end of the bullish cycle. “Short-term investors generally present better opportunities for accumulation as they sell at greater losses. If there is a further decline from the current price, it is wise to accumulate, not sell.” *This is not investment advice. Continue Reading: What Should Bitcoin Investors Do Now? CryptoQuant Analyst Examines Technical Indicators and Reveals the Best Option!
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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