Crypto Expert Encourages Investors To Buy The Dip As Bitcoin Price Falls To $64,000
03 Abril 2024 - 12:00PM
NEWSBTC
The Bitcoin price took a sharp downturn recently, dipping below
$67,000 and raising concerns among investors. However, a crypto
analyst has encouraged the crypto community to buy more Bitcoin at
this time, suggesting that the decline presents an opportunity to
acquire BTC at a lower price. Bitcoin Decline Signals Prime
Buying Opportunity Michael van de Poppe, a popular crypto analyst
and enthusiast, has remained optimistic about Bitcoin’s future
outlook, urging the broader crypto community to view the
cryptocurrency’s recent dip as a buying opportunity. Related
Reading: Dogecoin Hits Major Roadblock As Whales Go On Massive
Selling Spree In a recent X (formerly Twitter) post, the analyst
shared insights on the crypto market, noting the regular occurrence
of both bullish and bearish activities, which contribute to the
market’s balance and stability. He also revealed that price
corrections were normal in the crypto market, independent of market
performance or conditions. Poppe has encouraged investors and
crypto enthusiasts to buy more Bitcoin now that the price is
currently trading at $66,528, according to CoinMarketCap. Over the
past week, the cryptocurrency has witnessed significant price
declines, plummeting by 4.64%. This unexpected price
decline has been attributed to the crackdown on Silk Road Bitcoin,
an online black market that allows users to purchase illegal and
unethical commodities anonymously using Bitcoin. According to
ZachXBT, a crypto community member, the United States government
transferred 30,175 BTC worth $2.1 billion of Silk Road hack funds
to Coinbase. This massive Bitcoin transaction has possibly led to
the cryptocurrency’s present decline, fueled by bearish news and
market volatility. “At peak bullish momentum, you’ll see a
huge impact of every bearish narrative. This time, it’s the Silk
Road Bitcoin being transferred. Anyway, buy the dip,” Poppe
stated. BTC’s Peak Anticipated Before Halving Event In
another X post, Poppe revealed disheartening news, noting that a
critical price zone had been lost for Bitcoin. The crypto analyst
asserted that the cryptocurrency would not witness a surge to new
all-time highs during this pre-halving phase unless it breaks
through resistance levels at $69,000. Related Reading: Solana
Whales Are Making Moves – Here’s The Direction They’re Headed In
The analyst foresees a period of consolidation for BTC,
highlighting that during this time altcoins are expected to gain
traction while Bitcoin undergoes a correction phase. He further
disclosed that a price correction for Bitcoin indicates a healthy
and organic market cycle. Poppe has stated that Bitcoin’s area of
interest lies between the range of $56,000 to $60,000. Concluding
his post, the analyst further encouraged investors to acquire
Bitcoin, emphasizing that “dips are for buying in these markets.”
BTC price recovers from dip | Source: BTCUSD on Tradingview.com
Featured image from CNBC, chart from Tradingview.com
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