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Don't worry, the R $ 90,000 `` drop '' is little for Bitcoin, says a popular trader.

Don’t worry, the R $ 90,000 “ drop ” is little for Bitcoin, says a popular trader.

a Bitcoin Its value has decreased significantly by more than 90,000 reais since the cap That led to the main price Cryptocurrency From the market to more than 370,000 BRL Brazil.

However, for the veteran trader, Peter Brandt ‘Drop’ more than 20% ‘a little thing’ to Bitcoin It is nothing more than a “smooth movement”.

“[A] Bitcoin’s 20.0% reduction so far is historically very pleasant. There is a track record of bullish trends from BTC to test the 18-week moving average (currently at $ 46,615). Personally, I doubt that such a new test will happen, but Bitcoin has a history of attracting surprises. “

Calculating the percentages displayed in the trader’s table, which includes 14 pullback events, the average retracement size for BTC is 35.22%.

Therefore, a reduction To the 18-week moving average at $ 46,615, the decline of $ 64,863 returns to 28.13%, It is much closer to the average size of a patch.

Laser eye correction

So, according to Brandt, the current reform stemmed from the direction of lasers to the eye, a move that encourages community members to use laser-vision social media profile pictures to root Bitcoin’s rise to $ 100,000.

Cryptocurrency markets are currently undergoing a “laser eye” correction. The opportunities for correction in coding are directly related to the prevalence of laser eyes on Twitter. Do you want the correction to end? Get rid of laser eyes. “

Why is the entire Bitcoin community now wearing laser eyes?  - Irshade

In an interview with Laura Shin, Brandt explained that the laser eyes trend reveals the arrogance of market participants, which could mean that the rise of BTC may take a breather.

“Excessive enthusiasm in any market is always a warning not to go from bull to bear or liquidate long positions or it will liquidate a fixed position, but it indicates that it is getting a little tired … eyes, you know that the market at least will be turbulent for some time And it stops rising … as people start hitting their chests in public, ‘I own Bitcoin. I own Bitcoin. Look at me. I have laser eyes. This will always be a sign that the market will relax at least.’

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