For the famous crypto-influencer Scott Melker, Bitcoin’s next setback could be the best opportunity to buy cryptomoney.
After several weeks of steady growth, it doesn’t look like the price of Bitcoin will stop rising anytime soon. However, on its way to reaching its historical high, it’s likely that BTC will suffer several corrections in its price, which may alarm investors. That’s why analyst and investor Scott Melker warns in today’s Tweet that the next Bitcoin Fortune decline might be the best opportunity to buy:
I believe that the next major dip (there will be one) will be the best/last opportunity to buy cheaper #Bitcoin.
Don’t blow it.
– The Wolf Of All Streets (@scottmelker) November 19, 2020
Where will the price of Bitcoin go? Check out the recent predictions about its price
Backwards? Buy Bitcoin
Financial markets are never linear, especially in the short term. In fact, it’s normal that even assets that are normally presented as more stable than Bitcoin, such as stocks, turn out to be extremely volatile in the short term, despite maintaining an upward trend in the long term.
That’s because any asset, even in the biggest bullish rally in its history, will experience more or less large declines. Something that’s very common in the crypto market, where bullish rallies in the price of Bitcoin are usually accompanied by declines in their price. These usually scare off a lot of investors. Those who mistakenly think that a reversal represents the end of the rally, quickly exit the market.
The next Bitcoin retracement could be the best buying opportunity according to Melker. Source: CoinDeskThe next Bitcoin downturn could be the best buying opportunity according to Melker.
For this reason, one of the most important analysts of the crypto world, Scott Melker, warns against panic through his Twitter account. In it, he recommends investors not to be tempted to sell in the face of a decline in the price of Bitcoin. Instead, they should take advantage of it to buy.
„I think the next big drop (there will be one) will be the best/last chance to buy the cheap Bitcoin. Don’t waste it.
In this way, Melker recommends to all members of the crypto community to be on the alert for a future drop in the price of Bitcoin. Because this drop, although deep, will probably represent an invaluable opportunity to acquire BTC at low prices before its price finally skyrockets.