As you might know, the price of bitcoin reached its lower point since last month.
Should those who want to buy more do it now or do you believe we'll see the bitcoin price get down a little more?
Some here were talking about rumours of BTC being purchased from Saudi Arabia, but well, that's just a rumour.
But people tend to panic and sell, so this might be the best moment to buy as much btc as possible. What do you think?
The lowest price was March which I think was around 20k$ the drop last month wasn't probably a big drop the lowest I can remember was around 38k$ which is I think just a correction because of the ETF hype I think but there wasn't really any major drop since the market gain momentum when the price was around 20k$. Personally, I really expect the market price to drop even though the price is 42k$ which already gained a lot because just like I've said the market price was around 20k$ in March last year so we got x2 in almost a year which for sure is a great growth of momentum on the market, But at this time is where a lot of newcomers gain in into cryptocurrency so we could easily expect a lot of FUD in the market especially because of the Bitcoin halving event. Most of the traders are going to expect a huge price increase in the market if the Halving happened but in my opinion, just like in the past halving, there might be no movement or possibly just a huge drop after the event.
Probably not really the best moment to buy as much Bitcoin as you can since when the market was down on around 15k-20k$ in 2022 was the best time to buy and start to accumulate more Bitcoin since that is the lowest price that we've seen. Still with the dollar cost average I would still recommend buying bitcoin and accumulating as much as you can if you are really going to the long term and planning to sell on the Bullrun which i think is around 2025 or 2026.