Veteran Investor Declares Bitcoin’s Worst Sell-Off Likely Over as Price Surges Past $73K

A veteran investor has issued a major market call, stating Bitcoin's most severe sell-off phase is likely finished as the cryptocurrency surges past $73,000. The declaration comes amid Bitcoin's powerful rebound from recent volatility, signaling a potential shift in market sentiment as the digital asset demonstrates renewed upward momentum.

Veteran Investor in Bitcoin: The Worst Is Over

Bitcoin has lately been experiencing sharp volatility, a phase where BTC is showcasing a strange to-and-fro pattern, with its price going upwards and downwards rapidly.

With the ongoing geopolitical narratives heating up, Bitcoin is emerging as one of the leading safe haven assets, giving its price a much-needed boost. Adding to this, a veteran investor, Mark Yusko, has brought forth an interesting insight, adding how Bitcoin’s worst phase might be over by now. Yusko stated that when assets start to trade below fair value, investors begin to purchase those assets, giving them momentum to surge again.

Yusko later shared how BTC accumulation has already begun to show its effect, with investors busy purchasing, which is now reflecting in its price momentum.

BITCOIN MAY HAVE ALREADY SEEN THE LOW

Veteran investor Mark Yusko thinks the worst of the #Bitcoin selling may already be behind us.

His reasoning is simple: when assets trade below fair value, investors start buying. That’s their job.

Yusko estimates Bitcoin’s fair value is… pic.twitter.com/xajwVV8Xbo

Accumulation Going Steady

Per the latest data released by Santiment, the percentage of bitcoin on exchanges has dropped to its lowest since 2017. This particular sentiment suggests long-term accumulation, which is bullish for BTC’s future price and structure.

Based on available tracked wallets, the percentage of Bitcoin on exchanges has dropped to its lowest level since November, 2017. In the over eight years since, it's fair to say that quite a bit has changed in both crypto and the world. pic.twitter.com/Sb9psThlvW