Bitcoin Sparks a Flash Sell-off ($BTC)
After an incredibly bullish Labor Day weekend, the infamous crypto-market volatility reared its ugly head — The price of Bitcoin ($BTC) fell from $51,000 to below $43,000 in a matter of hours on Tuesday morning, triggering a correction of more than -10% across the market at large.
Overzealous leverage usage likely contributed to this flash crash. However, for more measured investors, the recent correction represents an ideal buying opportunity.
The stubborn fact remains: Bitcoin, and investment demand for Bitcoin, isn’t going anywhere, as evidenced by the trajectory of underlying Purchase Intent Mentions.
We made a similar bullish argument when BTC was trading below $30K earlier this year, and our outlook remains unchanged.
Speculation-driven fluctuations aside, there’s an increasing number of institutions, businesses, and now countries throwing in their lot with Bitcoin. And, with many more promising blockchain integrations on the horizon, we’re optimistic about the future of this emerging market.