Bitcoin Down Over $40,000 From Its Peak: Is Now The Time To Start Buying?

Bitcoin (CRYPTO: BTC) has collapsed below all bull market support levels, prompting traders to contemplate whether a bottom will soon be established.

What Happened: Crypto trader Pentoshi, who has avoided calling dip buys throughout the correction, says the latest move is different.

With Bitcoin down roughly $40,000 from the highs and already bouncing 30%, he believes the market is now locally overstretched on the downside.

He isn’t declaring a definitive bottom, but estimates Bitcoin is “within a few percent of one,” identifying the $83,000–$85,000 range …

Full story available on Benzinga.com