War Panic Selling May Be Great Buying Opp for Crypto

The dumping may be the end of the correction, not the beginning...

Bitcoin, Ethereum and other crypto assets dumped over the weekend on the US attack on Iranian nuclear sites, and again on the announcement that Iran will close the Strait of Hormuz, though which 20% of the world’s oil flows.

This kind of selling often marks a bottom as it is fear-driven capitulation. Typically that comes at or near the end of a bearish movement, not at the beginning.

Let’s look at the updated charts…