Bitcoin (BTC) continues to fall and briefly even fell below the psychological limit of $ 90,000. According to Cameron Winklevoss, co-founder of crypto exchange Gemini, this is no reason to panic. On the contrary, he calls it the last moment to be able to stock up on Bitcoin cheaply.
Buying opportunity for Bitcoin
Cameron Winklevoss wrote on X that “this is the last time you will ever be able to buy Bitcoin under $90,000 again.” The American posted his message early this morning Dutch time, when BTC fell towards 89,300 dollars. The price has now recovered slightly and is fluctuating around $91,400.
The recent decline leaves Bitcoin at its lowest level since April. The currency is trading even lower than at the beginning of the year, when it was around $93,000.
Cameron Winklevoss and his brother Tyler have experienced many ups and downs with Bitcoin. They have been investing since 2013, when the digital currency was worth around $100. The brothers previously became known as the creators of the original idea behind Facebook, which Mark Zuckerberg himself eventually took off with. Although Zuckerberg turned it into a trillion-dollar company, the twins received a $65 million settlement after a lawsuit in 2008. They later used some of that money to get into Bitcoin early.
Recovery or crash? Analysts divided over BTC price
While Cameron is convinced that Bitcoin can recover soon, analysts are not unanimous. Pessimists point out that BTC closed this week below the 50-week moving average (50W SMA), a commonly used long-term indicator that represents the average of the past 50 weeks. This line often acts as crucial support. Historically, a close below this has often signaled the start of a bear market for the digital currency.
On the other hand, experts talk about the so-called money cycle. For example, the expected quantitative easing (QE) has yet to start, which could potentially provide additional liquidity to the financial markets. That could also give the crypto market new momentum.
Analyst Symbiote also points out that Bitcoin futures on the CME exchange have completely closed a gap between $91,000 and $92,000. Such a so-called CME gap occurs when the Bitcoin price moves sharply during the weekend while the futures market is closed. If the price then returns to that open level, analysts speak of ‘filling the gap’. Now that this has happened, BTC can start its upward trajectory again, the analyst said.
Source: https://newsbit.nl/winklevoss-dit-is-de-laatste-keer-dat-je-bitcoin-onder-90-000-kunt-kopen/
