A widely followed crypto analyst thinks Bitcoin (BTC) investors can never be sure of market bottoms, even though they can read the signs.
The crypto trader, known by the alias Rekt Capital, trusts his 328,500 Twitter followers to trust his instincts and data about Bitcoin. called.
“As BTC traders, we will never have enough data on where the absolute bottom will be. So we must take the risk of trusting our experience, our intuition, our investment thesis, and have the courage to make a life-changing decision in the future.”
The analyst claims that BTC investors who buy in the bear market will always stand out. doing.
“People who buy BTC a little early in the Bear Market (for example, at $35,000) will outperform people who watch BTC at $20,000 but do nothing about it.”
Rekt then points to historical bear market cycles, implying that an all-time high is only a matter of time.
“Every cycle, BTC hits a new high
Current All-Time High is about $65,000
Current price $20,000
The math is simple if you are planning to participate in the next Bull Market.”
Rekt then pointed out what types of investors are currently buying BTC.
“Buyers and long-term holders who thought they were getting it cheap are now buying BTC
In fact, they’ve been buying for months
Given their dollar cost averaging strategy, they may be at a loss right now.
But they understand that the temporary losses will far outweigh the big rewards in the future.”
Rekt also addressed Ethereum (ETH) investors who might be disappointed with the smart contract platform’s price drop after the successful Merge update. The analyst thinks that ETH needs time to rise.
“The investor disappointed with the post-Merge ETH price action is probably the same investor who was disappointed with BTC right after the Halving.
BTC starts to recover strongly just months after Halving
Such catalysts delay longer-term effects on price…
The bullish effects of ETH Merge will appear in the long run.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.