The entire crypto space is experiencing a tough time as most of the assets are trending in a very narrow region
While Bitcoin and Ethereum are consolidating within a narrow range, other altcoins wake up to rise high
Yet at every dip, a buying opportunity arises, yet no higher gains are booked and hence the best buying time may be still ahead
Bitcoin, the most dominant and primitive crypto, currently is battling hard to keep up above certain levels. However, the BTC price keeps on trembling every now and then, speculating a probable ‘not a right time’ to enter a trade. On the other hand, Ethereum, no doubt showcases an independent rally, yet gets impacted with the BTC rally often.
Interestingly, the other altcoins like Cardano, Dogecoin, Litecoin, Polygon, etc are finding their way out of this slump. The consecutive day’s plunge had forced many of the assets to visit lower levels, including Bitcoin price. However, most of the altcoins recovered but BTC & ETH remained trending in a narrow region.
When To Buy Bitcoin
Each time during the dip, many speculate it as a buying opportunity, yet the price rises a little high and drops to its previous levels. Therefore, making a room for a lot of speculation for entering the trade. A popular analyst Altcoin Sherpa predicts the best buying time for both BTC and Alts is 6 months from now in December.
The prediction was followed by a poll which is run by another analyst Bitcoin Jack and asked what to do in the coming 6 months, Buy or Sell Bitcoin? At the press time, nearly 3519 votes are recorded, however, still, 22 hours is remaining for the poll. As many as 83.6% of people asked to buy whereas 16.4% voted to sell.
Collectively the entire crypto space is speculating and calculating the best possible time to enter the trade. However, the bitcoin price needs to showcase a little more bullish momentum so that the traders gain immense confidence to jump in. And eventually uplifting the BTC price breaking the strong barriers around $42,000.