Bitcoin plummeted by 216,000 people and liquidated their positions by US$600 million. How to save yourself? Is the best time to buy the dip?

Bitcoin plummeted by 216,000 people and liquidated their positions by US$600 million. How to save yourself? Is the best time to buy the dip? In the past 48 hours, the entire network liquidated 510 million US dollars, Bitcoin was violently shaken, and the market situation suddenly changed! According to Coinglass data, in the past 24 hours, the amount of cryptocurrency liquidation across the entire network has soared to more than 580 million US dollars, twice as much as yesterday, and more than 216,000 investors were liquidated! So is it time to buy Bitcoin at the bottom? Is now the best time to buy Bitcoin? Today, the editor of this website will give you a detailed introduction to the best bargain hunting opportunity after Bitcoin plummets. Friends who need it can take a look!

1.BCH

Bitcoin Cash (BCH) surged 143% in six weeks, surging from $260 to over $600 before experiencing a correction. On the weekly chart, BCH price is showing an evening star pattern and is struggling to stay above $500.

Recently, BCH price retested the key level of $350 or the 50-day exponential moving average (50D EMA). However, strong buying pressure quickly drove the BCH price to rebound. This successful reversal reflected huge underlying demand and foreshadowed the formation of a morning star pattern from the weekly golden cross.

BCH price is currently targeting the $600 level as the bullish momentum continues to build. The market momentum is expected to continue to increase, with the altcoin’s price expected to touch the $700 threshold.

2.PEPE

Inspired by the popular meme, Pepe has attracted attention for its community-driven approach and viral potential. At the end of May 2024, the price of Pepe reached an all-time high of $0.000017 but subsequently fell as the bullish momentum waned. Within just one year of its launch, Pepe quickly became the third largest memecoin, with a market capitalization of $4 billion.

We believe that PepeCoin will be able to attract public interest and generate hype, leading to significant price increases. Since its inception, Pepe’s market capitalization has grown by a staggering 16,590.05%.

With a bullish breakout at $0.00001718, Pepe price is expected to reach new highs if the overall market recovers and bulls push the price above $0.000030. Theoretically, during this bull run, we predict that Pepe could reach the psychological threshold of $0.000070.

3.ENS

The Ethereum Name Service (ENS) has been making headlines lately. ENS is a decentralized domain name service built on the Ethereum blockchain that aims to simplify the use of lengthy and complex blockchain addresses by providing human-readable names. Since its launch, ENS has seen steady growth in adoption and usage, becoming an important part of the Ethereum ecosystem.

Since December 2023, ENS has performed strongly, rising from $8.81 to $30, an increase of more than 185%, and is expected to reach an all-time high of $85.69 this year. We believe that as more institutions like BlackRock start using Ethereum, demand for ENS will grow, making it a valuable asset.

Recent announcements from cryptographic naming service providers involve ENSv2. According to their blog, the upgraded version is designed to improve ENS’ affordability, flexibility, and scalability. Originally announced in May, the release was about to launch and had a significant impact on market prices. However, the developers have not yet revealed the exact release date of this upgrade.

4.ONDO

ONDO’s price has been consolidating over the past two weeks, with the $1.07 support being tested multiple times during this period. While the altcoin has yet to break below this support, a whale push may do so.

However, support from retail investors may prevent this from happening, allowing the price to bounce off this support. The likely outcome is that ONDO continues to consolidate.

However, this did not sit well with other investors who were trying to prevent the price from falling significantly. Retail investors have been focused on hoarding coins rather than selling for any reason. This is evidenced by the increase in mid-term holders (holding supply for more than a month). This group of investors increased their share of the float from 34% to 72%. Meanwhile, short-term holders, who tend to sell, lost their dominance, slipping from 53% to 22%.

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