Supporters believe that investors believe that Bitcoin is an effective tool for hedging inflation in the context of global central bank releases. Opponents believe that investors are chasing Bitcoin too fiercely, and a speculative bubble may have formed. Do you think Bitcoin crash is an opportunity to enter the market?
There is a news report out today that Bitcoin has hit a record high amount of holders (defined as two inwards transactions and no spend, ignoring dust amounts remaining in wallets):
https://www.proactiveinvestors.com/companies/news/950483/bitcoin-holders-hit-record-high-as-crypto-investors-buy-the-dip-950483.htmlThis would bode well for the idea that small scale investors are still happy to pile into this asset and are considering this dip a decent buying opportunity. However, sometimes it is the small scale buyers that get screwed over as the smart money is slowly pulling out. There will be many large whale investors out there who bought in at $15-20k a year ago and want to see some profits before it all potentially vanishes again in the current bear market trend.