Those who needed to sell, did it on March 13th

Many investors are wondering if Bitcoin has the worst behind it after its $ 4000 fall in March. The economy is starting and the measures against the spread of COVID-19 are being released. The price of cryptocurrencies returns to normal. The fear of the network collapsing in a major price collapse has already subsided. Halving is probably going to be okay.

But what to expect next? How does price in this environment respond to the approaching halving? A well-known cryptocurrency analyst thinks that those who wanted to sell did so in a huge fall in mid-March.

The economy is starting up: The network will not collapse and the halving will go smoothly

Measures against the spread of COVID-19 are slowly being lifted across Europe. Most Wall Street investors believe that the market response was totally disproportionate. The financial markets that form the notional basis of the economy are all right. Despite the collapse of several banks across the US, the major ones like Goldman Sachs are doing well.

Former Wall Street matador Scott Melker believes most of the frightened speculators have sold in a downturn and are now slowly building up their positions.

(1) Bitcoin has retraced the majority of the dramatic crash on March 12th – over 80%. There are a number of theories for why price dropped so hard. The most logical and the one supported by those in the know is that Bitcoin dropped because it is a liquid asset – easy to sell.

— The Wolf Of All Streets (@scottmelker) April 18, 2020

You should be interested in: Goldman Sachs: Global Economy Loses $ 17,815 Billion!