Bitcoin sell-off may be setting up “generational buying opportunity” – analyst

Bitcoin could be reaching the bottom of its bear market, with analysts suggesting previous bottoms have presented “generational buying opportunities.” Marcus Sotiriou, an analyst at GlobalBlock said Bitcoin is consolidating at around US$29,000, and that the relative strength index (RSI) has entered a period that has “historically preceded outsized returns on investment.

Timeline of Bitcoin

Bitcoin price after recording the lowest levels in 2022 below $18,000 during the last trading day, managed to close the day's trade above $20,000. Since then the star crypto has been trying very hard to sustain above $20,000, while bears are attempting to restrict the price below these levels. However, despite a rebound above $20,000, …

The past week has turned out to be one of the worst for Bitcoin as the price of the top cryptocurrency by market cap fell below $20,000 for the first time since 2020. The price, which dipped to as low as about $17,770 also broke a major record in the cryptocurrency's history - dropping below it.

The world's largest cryptocurrency Bitcoin witnessed another major weekend of a bloodbath as the BTC price took a dive under $18,000 for the first time. There have been major liquidations taking place with long-term Bitcoin holders dropping the towel and giving up.

For Bitcoin supporters, the past few days have been a turmoil due to unfavorable price movements. After falling to the $19,000 mark on June 18th, Bitcoin appears to have likely cleared the way for a new bottom. The recent Bitcoin mining data confirms this perspective. Nevertheless, this newfound market price represents a variety of variations …

Over the last weekend, Bitcoin (BTC) witnessed heavy selling as the BTC price took a dive all the way to $18,000. Since then, Bitcoin has recovered by more than 10% and is currently flirting around the $20,000 level.

El Salvador's bitcoin-friendly President Nayib Bukele has shared a very important piece of advice to all Bitcoiners as the cryptocurrency ecosystem has continued to take a deep dive down.

Bitcoin, the world's biggest and best-known cryptocurrency, was up more than 16% from this year's low of $17,592.78 on June 18, when it tumbled on investor worries about growing troubles in the crypto industry and amid a general pull-back from riskier assets.

Popular anti-crypto proponent Peter Schiff is once again making headlines following his latest prediction. The Euro Pacific Capital Inc. CEO recently claimed that he expects the future of the crypto-industry to be quite different from what it has been.

Barry Silbert, CEO and founder of Digital Currency Group – the parent company of Grayscale, Genesis Trading, and more, says they are buying Bitcoin as the world's most popular crypto trolls 52-week lows. The tweet has been liked almost 12,000 times – probably by beleaguered.

“Black Swan” author Nassim Nicholas Taleb advised investors in Bitcoin (CRYPTO: BTC) and other cryptocurrencies who followed recommendations from influencers to keep screenshots. What Happened: Taleb said in a recent Tweet that Bitcoin will be a “gold mine” for lawyers.