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Why now is the best time to buy Bitcoin, Ethereum

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Since Bitcoin hit its ATH, analysts and traders have been anticipating a price drop/correction before a prolonged price rally to buy some more. This is one of the popular upsides of the current price drop in Bitcoin and Ethereum.

Source: Coinstats

As Bitcoin and Ethereum’s price rallies retraced and the trend reversed momentarily, the ratio between BitMEX longs and shorts neutralized. This welcome change followed after several days of relatively high long levels. Since the neutralization, longs are no longer fueling the shorts, and those willing to leverage long into this dip no longer have to do so at unusually high premiums.

At the current price level, on BitMEX, the Bitcoin and Ethereum perpetual contract funding rates are either neutral or in the negative, so this could very well be the moment some bulls were waiting for.

Source: Santiment

This may have created typically the best entry points in 3 months for buying both these assets. Some on-chain analysts believe that the current pullback in Bitcoin is healthy, but it could be one of the last opportunities to accumulate at these low levels. $30,000 is cheap when traders take into account the fact that this could be one of the few drops before the price rallies to a new ATH, as predicted by S2F in August 2020.

The question is – Since it is likely that whales are buying and institutions are buying, are you buying? Retail traders who booked unrealized profits may have sold to whales and institutions buying the dip. Not long ago, when Bitcoin’s price hit its ATH, retail traders on Crypto-Twitter asked for a price drop below $30,000 to buy one last time before a long and more sustained price rally.

If you caught the Bitcoin dip to $31.1k in the early hours on Friday, you would have made a quick 4.5% return. Besides, institutions that bought the dip are profitable yet again, in the same market cycle.

Further, with Bitcoin prices continuing to decline, its social volume has exploded to 6-day high levels and traders are recognizing this as an opportunity to buy Bitcoin at its bottom. This may after all be the best time to buy before the price starts rallying onwards again.

Source: https://ambcrypto.com/why-is-now-the-best-time-to-buy-bitcoin-ethereum/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Amb Crypto

Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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