Bitcoin plummets 25% as panic rises while investy.ai users remain in control

By Trey Huynh August 6 2024

Things took a surprising turn for Bitcoin and the crypto community since the beginning of August when BTC price started to decline.

On August 2nd Bitcoin slumped from the $65,000 mark to $61,000, the largest single-day decline since April. This was where the snowball began to roll as the price continued falling in the next several days, resulting in unmitigated panic within the community.

By the end of August 3rd, the price was sitting right below $60,000, then dipped under $50,000 in the following day, and at the time of this writing, Bitcoin is hanging on at just above $55,000.

The sharp decline of Bitcoin does appear to be slowing down, but there are still no indications of it going back up any time soon. Some analysts believe Bitcoin may sink even lower, past the $40,000 mark. If that happens, it would be an all out crash for the largest cryptocurrency in the world.

The situation had left the community baffled since Bitcoin had had many encouraging events, from Germany hoarding over $2 billion in BTC to US former president Donald Trump publicly endorsing the crypto.

Speculations seem to circulate rumors and fear within the market. Most of them have attributed it to the implications of Jump Trading getting rid of their cryptocurrency. This has led to mass liquidations and sell-offs in the market. At the time of this writing, over $1 billion in crypto-tracked futures have been liquidated.

Investy.ai users experienced minimal impact

Amidst the chaotic tantrums of Bitcoin and the growing turmoil in the market, our AI was hard at work, sifting through every bit of data to determine the best course of action.

It was a close call, but our Three Pillar strategy has managed to circumvent major losses by hanging on to USDT prior to the Bitcoin drop. Thanks to our advanced Risk Management algorithms, exclusive to our users, the AI was able to detect very subtle signs of a market downturn. 

Other strategies like the Blue Chip Crypto Navigator have seen minimal losses (<1%) and held on to USDT as well.

If you’re one of our users, there’s no reason to panic. It’s business as usual and rest assured we’ll continue to stay on top of the market. We have no further recommendations except maybe avoid going on X/Twitter in the next 48 hours or so. It’s a battlefield. 

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