Bitcoin: Is Current Decline a Good Opportunity to Buy Dips?
In the current bearish landscape, Bitcoin is likely to enter a “crypto winter,” a period of sharp declines followed by a prolonged period of stagnation. When the same thing happened between 2018 and early 2020, the crypto market was finally able to recover and grow faster.
Warren Buffett, “The Sage of Omaha,” once said, “Be greedy when others are fearful and be fearful when others are greedy.” Given the “Buy Dip” message spreading around the community, is this an opportunity to do so?
Speaking of opportunities, recently popular analyst Kaleo tweets that the current time is a good opportunity to buy, despite growing concerns in the cryptocurrency market.
He urges his followers to “keep collecting” and not to miss this opportunity. It all depends on emotions; If you see the current market correction as an opportunity to buy more at a discount, general sentiment no longer matters. In this regard, Kaleo repeated:
“If you don’t believe Bitcoin is dead, then this is called an opportunity.”
Despite the difficulties, this isn’t the first time Kaleo has offered its optimistic approach. As mentioned earlier, he predicted that Bitcoin would outperform technology stocks and exceed $ 100,000 in the long run.
Other crypto speculators also joined this “buy dip” group. Not long ago, Lex Moskovski, Chief Investment Officer at Moskovski Capital, saw a sharp drop in prices as a good time for HODL.
The negative stock-to-flow deviation is the highest that has ever existed in total #Bitcoin History.
This is a great buying opportunity if you believe in this model. pic.twitter.com/N3CFLLJdH9
– Lex Moskovski (@mskvsk) July 10, 2021
“The deviation between the BTC price and the stock-to-flow model is at the highest negative level ever in the history of #Bitcoin.
This is a great buying opportunity if you are a fan of this model. “
Another Bitcoin proponent tweeted:
purchase #Bitcoin right now is not risky.
It is risky to miss the opportunity to buy Bitcoin now.
Collect when others are angry!
– The moon (@TheMoonCarl) July 16, 2021
“Buying #Bitcoin is now risk-free. Now miss the opportunity to buy Bitcoin, very risky. Collect when others are afraid! ”.
The billion dollar fund manager Jeff Gundlach, on the other hand, is approaching the current market decline differently. The “Bond King” predicts that Bitcoin price will drop below $ 23,000. “Bitcoin’s chart looks very dark right now,” he added:
“It looks like a big bearish head and shoulders pattern.”
According to Aambcrypto