Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Odohu
on 10/11/2023, 14:10:07 UTC
⭐ Merited by fillippone (1)
The Bitcoin market is bullish now so after you invest in Bitcoin the price of Bitcoin may have increased a bit for which you think you may have made a profit as you invested but this profit is temporary.
It is quite exciting seeing some gains in the market but I think it is too early to conclude that we are in a bullish market. There still chances of this being a bull trap. A lot of theories have been postulated as to why the market is rising, some believe it is rumors of Bitcoin ETF approval while some believe it is as a result of Ordinals, that is NFTs on the Bitcoin Network. If the former is true and Bitcoin ETF did not see the light of day at least for now, the market might dropped drastically even though we don't know the extent to which the drop will be but surely the market will respond accordingly. This will confirm that we are really still far from being in a bull market as many things are still hanging in the balance. As we approach Q1 of 2024, a lot of things will become clear.

Nevertheless, the wise thing to do now is to continue to collect Bitcoin with whatever method you are using because the bull market will eventually come even though we are not certain when it will happen. In line with the topic of the thread, "Buy the DIP, and HODL"