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Sunday, September 25, 2022

Bitcoin: Buy The Bitcoin Dip NOW!!!

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Today we’ll be talking about buying the Bitcoin dip. Is that the right thing to do now or is it not the right time yet? All of these questions will be addressed in this video. Please stay tuned. I’m sure you’ll learn a lot that will help you with your decisions. Bitcoin’s price started on a bull run in December when it set a new record of twenty thousand till it reached about forty thousand in January.

That is a lot of movement within a month and then a retracement. Experts say this correction is necessary to keep the Bitcoin price healthy. Market analysts predicted that Bitcoin’s record-breaking run may continue, with strategists from JPMorgan stating that it could reach above one hundred thousand dollars.

Others warned that the notoriously volatile cryptocurrency could crash in the short term, as it did following the last great bull run in twenty seventeen. The long term outlooks generally favour more gains. Recently, Craig Rousso, director of innovation at blockchain firm Polyandry, made a comment about Bitcoin. He said Bitcoin has entered a new phase of price discovery, largely driven by an amplified institutional interest in the digital asset.

He also said that we probably have not yet seen peak retail participation as highlighted by the low search and social activity relative to twenty seventeen. Retail participation, coupled with accelerated institutional participation, will likely continue to drive the bull market in the first quarter.

Bitcoin successfully cemented itself as a legitimate asset in twenty and will continue to be adopted across the financial industry regardless of any positive shift in the traditional global economy. Washita Jahjah, CEO of Decentralized Platform Alliance Block, added that in this first quarter Q1, Bitcoin could peak between 50 and 60 thousand dollars. Bullrun runs usually last for around three years, so we can probably expect it to be twenty, twenty-three before we see massive corrections.

According to her, any kind of crash is likely to be outside the sphere of macroeconomics or potentially as a result of an issue with miners or dramatic overpricing that needs to overcorrect. Any crash we do see will not be as drastic as those we have seen before, thanks to increased network effects and institutional involvement.

Slow Come Down began during the correction and later accelerated slightly, which caused a continuation in the selling pressure with little respect for traders attempting to buy the dip. While traders were highly panicked by what remains standard behaviour for Bitcoin, predictions began to favour a break from the kind of parabolic action of recent days and weeks.

Bitcoin price reduced as much as twenty-one percent over a two day period to as low as thirty-two thousand three hundred and eighty-nine dollars since the start of the coronavirus pandemic, it’s the biggest two-day drop, wiping off nearly one hundred and forty billion dollars in total market capitalization summaries that investors reacted to the stronger dollar and growing political uncertainty.

However, Bitcoin is still up roughly eighty-nine percent on a trailing one-month basis. Nevertheless, the drop did send shivers down the spines of investors. Peaks and valleys will always be part and parcel of investing in Bitcoin. What I mean by peaks and valleys are just highs and lows simply.

But I believe this is just a momentary blip and normal service will resume soon enough. covid-19 is surging once again in Asia, and the impeachment of President Donald Trump is jolting the markets. The strengthening of the dollar and higher bond yields are also an important contributing factor in the fall in Bitcoin prices.

However, all these factors are temporary in nature. In the long run, Bitcoin will continue to climb higher. Financial institutions are increasingly allowing users to buy, store and sell cryptocurrencies.

That’s why in a recent Bloomberg Crypto Monthly reports, analysts are predicting the Bitcoin could more than double from its current value in twenty twenty-one. The recent surge in Bitcoin prices is due to multiple factors economic optimism, big-ticket investment banks, banking, the scarce digital currency against inflation and a weakening US dollar are some reasons. However, we believe the biggest contributor is higher institutional interest.

Square, PayPal and Vidia and CME Group all provide exposure to the cryptocurrency to their users. All of these companies are large, diversified conglomerates. Therefore, it’s hard to pinpoint how much money these companies are making through Bitcoin. However, considering the surge in its price, it will be a significant contributor to the bottom line, looking ahead.

Just an example, squarest cash generated one point sixty-three billion dollars of Bitcoin revenue and thirty-two million dollars of Bitcoin gross profit during the third quarter of twenty-twenty, this was up approximately 11 times and 15 times a year over year, respectively.

Pantera Capital Research shows people in the square are securing all the new Bitcoin added to the market daily. That’s great news, particularly for PayPal users. The online payment system provider allows customers to buy, hold and sell cryptocurrencies such as Bitcoin in a theory and for as little as one dollar.

CME Group, which is the largest financial derivatives exchange, also offers Bitcoin futures contracts up until December 16th and twenty twenty-eight thousand five hundred and sixty CME Bitcoin futures contracts equal to roughly forty-two thousand eight hundred Bitcoin traded on average each day. Simultaneously, the institutional interest keeps increasing. The number of large open interest holders reached a record of one hundred and ten in December.

We’ve been here before. Highs and lows are not new phenomena for Bitcoin, as I pointed out when I talked about peaks and valleys earlier. However, the cryptocurrency is now finally gaining institutional support, which eluded it for a long time.

The pandemic certainly helped during the widespread lockdowns, online commerce and payments ballooned, increasing interest in digital currencies exponentially. Bitcoin was always volatile, but the past year has shown that every asset class can become wobbly in an uncertain environment.

It was always regarded as an interesting store of value due to the ultimate ceiling of twenty-one million and the difficulties in mining it. But its wider acceptance is bringing a sense of credibility and stability that was hitherto missing. Bitcoin well addresses wallets with more than one thousand Bitcoin worth nearly three hundred and fifty million dollars nonetheless have continued to rise.

It rose by four point two percent since December twenty-twenty, according to the findings of independent researcher Elias Simos. In the same way, smaller addresses with 0.01 Bitcoin worth about three hundred fifty dollars have dropped by six-point thirty-two percent in the same period.

The comparison supports the narrative that institutions are buying Bitcoin at the expense of retail investors and traders. Furthermore, long term bitcoin tops, for instance, twenty thirteen and twenty seventeen are marked by retail euphoria. Currently, the markets are witnessing the precise opposite.

Stimulus spending by the US government is driving many investors to worry about a depreciating dollar and consider alternative stores of value like Bitcoin. The incoming Joe Biden administration has already suggested that the recent nine hundred billion dollars stimulus package released by the Federal Reserve is just the beginning, causing institutions to consider bitcoin and gold. Let’s consider what billionaire Michael Novogratz also said, he said.

The furious rise for Bitcoin in recent months has left the cryptocurrency vulnerable to pullbacks. But new institutional buyers will step in to stop a slide that seems to be happening anyway locks him analytics firm Glass. Snoad also noted that it will address numbers have increased by nearly twenty-five percent year on year and have risen by two hundred in the past two weeks.

Rafael Schulze, Kraft CEO of Glass Noad, also said that the bull run could soon resume as the network remains healthy and other online indicators are biased. Bullish data provided by Glass last.

It also shows some retail investors or weekends or investors lacking confidence or resources to hold assets for the long term have liquidated holdings. The number of addresses holding less than 0.01 bitcoins dropped slightly from eight-point fifty-four million to eight-point fifty-three million total addresses indicating that some participants responded by selling the drop.

This is likely signs that it’s the best time to buy the drop, as predictions show a continuous bullish one will soon resume. But like we always advise, please do independent analysis as Bitcoin is always volatile. Let’s take a look at some charts.

This chart shows Bitcoin in an ascending channel, which indicates that the long term bullish front is still very imminent, but you will notice its current prices in the downward trend, which is the dip we’re talking about, around the portion where we have the purple arrow.

As you can see from the chart, the expected bull after this dip is a long one, expecting to reach the top of the triangular channel that shows that the best time to buy is during this dipping period as Bitcoin is set to go on another long bull.

According to the chart, the price may exceed its all-time high in the long run as it tries to make it to the upper end of the channel. This chart shows the price of Bitcoin trying to converge in a symmetrical triangle.

The chart is a 24 hours chart, and it’s considering the prices some days ago inside the symmetrical triangle. That triangle is illustrated using the two dotted blue lines that appear as if they’re going to meet. So the idea is that the price is eventually going to break out of this triangle as it approaches the tiny ends.

And since Bitcoin is in an overall bullish run, the breakout is definitely going to happen in the bullish direction. There are predictions and analyses that Bitcoin is going to resume its bullish run very soon. And of course, buying the dip assures more profit.

So the predictions suggest that the dip period is a good time to buy and hold or long bitcoin so the rewards can troop in as soon as the bullish run resumes. If you made it to the end of the video, a very big thank you to you.

Don’t forget, it’s the Crypto Lions channel and your reliable Channel four news and predictions can subscribe like our videos and please turn on post notifications so we’ll first know when we add a new video. We’d love to hear from you in the comments section below.

Good luck and happy investing.

Read More: Is Ethereum About to Skyrocket in Price

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