Bitcoin Breaks Below $81,000 Support, Liquid Capital's Jack Yi Sees Further Drop Before Rebound
Summary
- Jack Yi, founder of Liquid Capital, said Bitcoin had fallen below the $81,000 support level but could still stage a sharp rebound after further losses.
- He said the focus should be on finding the right price to buy the dip and stressed that the key is to stick to pre-set principles without being shaken by short-term moves.
- He warned that investors could miss the chance to buy the dip as the next bull run unfolds, while urging them to seek profits from swings in spot prices instead of futures trading.
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Jack Yi, founder of Liquid Capital, said Bitcoin could rebound quickly after extending its decline.
Writing on X on Oct. 14, Yi said Bitcoin had "clearly broken below the strong $81,000 support level this time" and that attention should now turn to identifying an attractive level to buy the dip.
Yi said he had advocated buying the dip around July and August of last year and had maintained in December that a correction was likely. The key, he wrote, is to stick to pre-set principles rather than get shaken out by short-term moves.
He said the market's next phase could resemble Bitcoin's bull run three years ago. In his view, the cryptocurrency will fall to a certain level, then rebound quickly and begin a fresh uptrend. That, he added, could leave those who hesitated to buy the dip missing another chance to reenter.
Yi also urged investors to avoid futures trading even if they expect a rebound. He said traders with sufficient skill can generate profits from spot-price swings alone and added that he is considering disclosing his spot trades in real time on some platforms in the future. "Getting rich slowly is also a skill," he wrote.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀