Spartan Group co-founder: BTC will not drop below $42,000, and the market will rebound quickly
ChainCatcher news, Kelvin Koh, co-founder of the cryptocurrency asset management company Spartan Group, summarized six key points regarding Bitcoin's sharp drop in the early morning:
Such adjustments in the cryptocurrency market are not uncommon. As the market continues to rise, we will see several similar situations this year.
The market will rebound quickly. The sidelined funds will be put to use. The fundamentals have not changed.
This sell-off will clear the leverage and positions accumulated over the past few weeks, laying the foundation for the next round of market growth.
Your portfolio should have withstood the test of the sell-off. If you were liquidated, you need to manage risk better. Even though we are in a bull market, the market will still clear out the weak players in this way.
If you have been on the sidelines so far, this is your opportunity to enter the market. Bitcoin will not drop to $42,000, so don't try to be too clever.
If you have been considering buying a certain cryptocurrency, now is a good time to buy.
