Within the past few weeks, members of the crypto community shared their displeasure concerning the prominent cryptos’ constant decline. While the decline hurts gains that traders got, many forget to realize that the price dip creates a good avenue to expand one’s previous crypto holding. Firms like MicroStrategy are utilizing the price drop to buy more assets.
Looking at BTC now, the digital asset is not too far from its peak, making it hard for traders to buy if they want to record substantial gain. When BTC further corrected around the $31,000 range, the software company quickly utilized that opportunity to buy $10 million worth of BTC before it appreciates further. Sources show that even though most people disliked the correction, some wanted it to decline before it enters another rally that would send it into a continuous flow of new highs.
Current price situation essential for bull movement
Several shorts and longs face neutralism, based on the negative outlook the price correction gives both BTC and ETH. Holders can now buy the asset at a reasonable price, not like how they used to buy it at an expensive range. The rate at which these assets decline might be essential for bull movement in the market.
Looking at the situation, the correction will help investors make a greater gain if they make their investment move around this time. Experts already anticipated the correction when Bitcoin and Ethereum surged in the past few weeks. They explained that the correction might be the only chance to get the asset around the $30,000 mark.
Also read:Looking at the market situation, if the assets rally around this time, investors might find it hard to buy the digital asset at an affordable price when it skyrockets in weeks to come. Some people even predict Bitcoin hitting the $100,000 range by the end of 2021.
However, there is no guarantee of Bitcoin hitting that range. It’s likely for BTC to record notable gains. Retail investors might be at the losing end since most sold to Whales, causing a coming scarcity and increased sell pressure for Bitcoin around this time.
Bitcoin and ETH might not go lower
The digital assets could surge immensely when rallies start, meaning that the present price correction might be the best time to accumulate the cryptos. Institutions and whales are heavily buying the digital asset, almost shrinking the asset’s retail holders. Buyers need to recognize the crypto’s decline as the best time to make investment plans.
As opposed to Bitcoin, ETH is gradually recording new gains, meaning that it is not far from its all-time high. Fortunately for investors, Ethereum is not recording massive new gains, also another opportunity to consider a fast-growing altcoin.
When the prominent cryptos rally, there is a high likelihood that smaller cryptos would record new gains, according to the theory behind the altcoin season. Some suggest that ETH is on a mission to hit $2,000, especially with CME ETH futures launching by early February and the asset’s new mechanism to improve its scalability situation.
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