- Bitcoin whale buys $961 million worth of BTC amidst major market dip.
- As panic selling ensued the market turned to fear sentiment.
- Seasoned traders bought the dip, they see that Bitcoin, in the long-term, is still bullish.
The crypto market saw Bitcoin dip below the $60,000 price mark which led to massive panic selling from shaken crypto investors. For seasoned investors however, this was a landmark opportunity to buy the dip before the arrival of the golden bull run.
To prove their faith in the golden bull run expert analysts have been advocating for buying the dip if not holding strong to crypto bags. Amidst the many crypto buy signals, one whale bout $961 million worth of Bitcoin (BTC) as panic selling ensued.
So horrific was the panic selling that the Crypto Fear & Greed Index dipped to 30 on the radar. This meant that the crypto sentiment has shifted to ‘Fear’ from the ‘Greed’ scale that was prevailing earlier this month.
If seasoned traders know anything, it is the fact that Fear phases are when profits are made. Buying dips in these market windows is what guarantees most investors a pain free ride to bullish waves once the market recovers.
Case in point, reputed crypto analyst Doctor Profit, known for his accurate predictions, has been talking about how Bitcoin will move in a sideways movement for months as it ricochets between $57,000 to $72,000.
Once again, his prediction has been proven accurate and he says this latest dip was the perfect opportunity to buy cryptos before the upward momentum comes back in full strength. Many believe this is the final dip for the crypto market.
This is because, historically, Bitcoin prints its bottom in the month of June. This has been true over the last 4 years and could very well be true for 2024 as well. If Bitcoin truly does print its bottom this month then altseason is just around the corner and should arrive once Bitcoin enters price discovery once again.
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