Bitcoin has gotten absolutely smoked the past few days but there may be some relief ahead.
Yes, yes I know it may not seem like a good time to buy bitcoin or anything else for that matter.
However, there is some history on our side that may say now is the time to buy bitcoin for some quick gains.
What do I mean?
Over the past 2 years, any time bitcoin has fallen by 12% or more in a 2 day period, there is often a bounce right after.
Don't believe, me look at the chart with the data points included:
(Source:
)https://twitter.com/OddStats/status/1063166247079075840
- OddStats
As you can see a lot of those data points are at or near bottoms.
In fact, had you followed this strategy the last time this happened, you would have bought in March of this year and enjoyed close to a 50% gain over the following 5 weeks.
Not too shabby eh?
Will history repeat this time?
No one can say for sure, but there might be a slight glimmer of hope at the end of the currently very dark tunnel.
However, keep in mind that had this strategy been followed in December when this criteria was met, investors would have lost close to 30% over the following 2 days.
It's not a strategy for the faint of heart.
Stay informed my friends.
