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BTC and crypto trading guru Tone Vays has said that the Bitcoin price may have reached its price floor bottom.
If so, he advocates for investors to buy now for long-term holding. The notion of buying on dips as a tried-and-true investment strategy dates back generations.
For Bitcoin (BTC) and other cryptocurrencies in general, picking up promising platforms during lows can be both extremely profitable, yet it is also quite challenging given the volatility of the market.
Vays clearly thinks that now is the time for investors to start accumulating. He has tweeted:
“It’s hard to say if Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard. Ex: These capitulations ‘usually’ drive price to NEW lows but we stayed above $3,150.”
“For those that “Bought the Dip” under $4k lock it down as HODL. For those that missed it, I am comfortable buying it here, but also setting $BTC Limit orders at $4,550, $3,550 & my ALL IN is at $2,750-2,950! Can’t see Bitcoin going lower for those waiting on sub $2k”
Since the price collapse on Thursday, there has been no shortage of speculation over the market’s next steps.
Unlike previous crashes, this one has deeper ties to global events. Many crypto advocates believe that the BTC price could go much lower.
Even Vays acknowledges such but claims that enough data exists to feel optimistic that the worst is over.
Anthony Pompliano Calls Market Conditions ‘Bitcoin Rocket Fuel’, Confirms Morgan Creek Digital Bought BTC Dip
In spite of the historic losses and wild swings, Morgan Creek co-founder Anthony Pompliano remains upbeat on the cryptocurrency’s future, revealing how he bought the dip.
“Basically, what you guys have to understand is that there’s incredible pressure in the Bitcoin market but nothing about the network changed. It’s completely stable. It’s exactly how it was, and there’s been a very big price discount. Of course, we’re bullish. As I said earlier this week, I bought more Bitcoin. We bought more Bitcoin at Morgan Creek. We definitely think that there is the same exact investment thesis that’s laid out.”
Pompliano says several factors can catalyze a Bitcoin surge around the halving.
“I think that, as I’ve been saying for months and months now, there is complete rocket fuel for Bitcoin… You’re going to see the rate cuts, you’re going to see quantitative easing, and then you’re going to see the Bitcoin halving. It’s all going to happen around the same time. And, I think that Bitcoin is going to become incredibly attractive to a lot of people very quickly.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.