the price of bitcoin drop sharply to it low within 24hours on 12th of on janaury , although the price recover to some few percentages , is the crash over now or more sell position will come in few days time . am thinking of buying at 34k , my question is it good to take a long position now ? what is your bias towards the market today .
Because of the increasing number of investors in bitcoin for me, we could still consider it as bullish, buying at 34k is a little risky since it's not that deep but I guess it's still worth taking the risk since the number of address who has more than 1k bitcoin has on its ATH so we could easily expect a high market price soon.
The drop in the market price was just because of the miners selling there bitcoin in order to make a profit, Personally, I invested a small volume again and I really think that the market price is gonna pump, and its already in 36k$ which is a good profit already for a short term investment. Would invest a much higher volume if the market price continues to dump and sell for short if the market price pump.