Overview of Latest Developments
• Over $62 million in long BTC positions were liquidated in a matter of hours.
• This was the third liquidation cascade within the last 12 months: after the Terra crash and the FTX bankruptcy in 2022.
• Forecasts are extremely difficult as positive and negative signs can affect price.
How to Proceed Now?
Investors should follow developments closely and adjust their investment decisions accordingly. Bitcoin shares are recommended for entry instead of investing larger amounts with whole Bitcoins. Additionally, investors should be aware that negative funding rates may give buyers an incentive for new entries into Bitcoin, potentially resulting in a price recovery.
Fundamental Stability Despite Price Correction
Despite the recent price correction and negative headlines, the fundamentals of the Bitcoin network remain stable. Network activity shows that hash rate continues to rise and number of active addresses on Bitcoin network has also increased despite falling prices over same period of time.
Expect Uncertainty in Coming Weeks & Months
The situation for the Bitcoin course will remain uncertain in coming weeks and months as both positives and negatives can affect price. Investors should stay alert to current developments to make informed decisions about investments.
Conclusion
Despite recent volatility, overall fundamentals of Bitcoin remain strong, with rising hash rate and active addresses on network despite falling prices since November 2021. There is still uncertainty surrounding future pricing due to both positive and negative factors at play; however, investors can mitigate risks by following developments closely to make informed investments decisions.