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    Crypto analysts attempt to time the bottom of the bitcoin price collapse

    Major crypto analysts say Bitcoin (BTC) at its present level is the perfect ‘buy-the-dip’ opportunity while the crypto industry is groaning under strong pressure as several crypto heavyweights face liquidation threats.

    The price of Bitcoin (BTC) is presently trading below $20k, having dropped to a low of $19,148 on Saturday. Meanwhile, CEO Barry Silbert of DCG, CEO Raoul Pal of Global Macro Investors, investor Scott Melker (The Wolf Of All Streets), and others have verified that they are buying Bitcoin.

    Bitcoin, according to crypto researcher Will Clemente, is currently trading below the 200-week moving average (WMA) and seems to be oversold at present levels. It occurred before, during the liquidity crisis in March 2020. Furthermore, for the first time since its inception, Bitcoin has the lowest manufacturing cost.
    Furthermore, the open interest in Bitcoin futures has dropped to its lowest level since December 2020. It comes after recent liquidations reduced the price of Bitcoin below the $20k mark. At these levels, he also proposed buying some spot BTC for his long-term holdings.

    Meanwhile, according to Rekt Capital, Bitcoin’s monthly RSI is creating the first bottom, which would lead to macro bullish divergence at present levels. He’s also told his followers to look for a giant sell candle with a lot of volume, which indicates a bottom. BTC prices should be able to rebound from this point.

    Bitcoin (BTC) has dropped about 9% in the previous 24 hours, and is currently trading at $19,148. While many crypto specialists feel now is the greatest time to “buy the dip,” renowned trader Peter Brandt previously indicated that the Bitcoin (BTC) price might fall below $13,000 since there is no support below $19,798.

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