After several weeks of constant rise, it does not seem that the price of Bitcoin is going to stop rising anytime soon. However, on its way to reaching its all-time high, BTC is likely to undergo several price corrections, all of which may alarm investors. For this reason, analyst and investor Scott Melker warns in the Tweet of the day that the next Bitcoin pullback could be the best buying opportunity:
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
Recoil? Buy Bitcoin
Financial markets are never linear, especially in the short term. In fact, it is 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 uptrend in the long term.
And it is that, any asset, even in the biggest bullish rally in its history, will experience more or less large setbacks. Something that is very common in the cryptocurrency market, where bullish rallies in the price of Bitcoin are usually accompanied by setbacks in its price. Which tend to scare away a good number of investors. Those who mistakenly think that a pullback represents the end of the rally, quickly exiting the market.
The next Bitcoin pullback could be the best buying opportunity according to Melker. Source: CoinDesk
For this reason, one of the most important analysts in 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. If not, on the contrary, they 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 all members of the crypto community to be alert to a future drop in the price of Bitcoin. Well, the same, although deep, probably represents an invaluable opportunity to acquire BTC at low prices before its price finally shoots up.
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