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Bitcoin gurus pep talk into buying - But should you?

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Avatar for felipejoys
Written by   11
1 year ago

Online press is marketing positive sentiment regardless of what big site you're looking at. There are articles trying to convince you that the latest crash is a good thing in the long-term. Market survival advice, new partnerships and substantial projects surface out of thin air ever since BTC dropped to 30k. While even educated guesses are risky, the current scenario seems to forecast a gentle bull market in the next few months.

What's really clear is how BTC is incredibly resistant at the 30k mark. Whoever buys in now could set a stop order close to 28k and see where it goes. This means an awkward loss of 27% at the very most to anyone who follows this specific strategy, alongside a high chance of riding the run back to 50k or higher. That's also because institutions have been buying above 30k, making it logical to assume they are likely going to hold tight until there is enough profit.

An alternative to buying Bitcoin at this time is getting acquainted with new projects and blockchains, but without ignoring the few top 100-coins not actually riding on Bitcoin's back, because despite being less affected by crashes of the main cryptocurrency, they still benefit from bull runs.

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