Spartan Group co-founder: BTC will not fall below $42,000, the market will rebound quickly

Cryptocurrency asset management company Spartan Group co-founder Kelvin Koh summarized six key points on the early morning plunge of Bitcoin:

1. This kind of adjustment in the cryptocurrency market is not uncommon. As the market continues to rise, we will see several similar situations this year.

2. The market will rebound quickly. Idle funds will be put to use. The fundamentals have not changed.

3. This sell-off will clear out leverage and positions accumulated over the past few weeks, laying the foundation for the next round of upward movement in the market.

4. Your investment portfolio should withstand this sell-off test. If you were liquidated, you need to manage risks better. Despite being in a bull market, weak hands will still be cleared from the market in this manner.

5. If you have been waiting on the sidelines so far, then this is your opportunity to enter the market. Bitcoin won't drop to $42,000, so don't try to be too clever.

6.If you have been considering buying some form of cryptocurrency, now is a good time to make that purchase.