The price of bitcoin (BTC) has been moving sideways for the second week in a row due to the persistence of two bearish tops and the lack of new lows due to the price action itself.

However, is now the ideal time to accumulate Bitcoin, given all the price drops? Historically ideal times to buy long-term BTC positions were pointed out by a cryptocurrency analyst on Twitter.

The timeframes, “12-15 months before the Bitcoin halving and 12-15 months after the previous ATH, which is from November 2022 to May 2023”, according to user MCP, are the best times to accumulate Bitcoin in the long term. .

Furthermore, he gave the minimum price targets for Bitcoin and stated that it could reach the $12 to $14k level. In terms of ETH, his lowest target is $480k, and for ‘Ethereum killer’ Solana, it could even hit $12k.

“I will probably miss the bottom anyway if they hit those low targets and I don’t expect to go that low tbh…it would be short term wicks with very few getting to buy there. Then a large percentage of the portfolio will be taken out of the market 10-18 months after the Bitcoin halving,” he added.

Bitcoin in its worst year?

One of the worst years for cryptocurrencies was 2022. Cryptocurrency investors noted sharp price declines from all-time highs.

Yesterday, Bitcoin tried to break $20,000 once again, but, like earlier this week, stopped and fell. While mid-cap cryptocurrencies are making some gains, most of the larger-cap altcoins are currently in the red.

While several tail risks loom over the cryptocurrency market, bitcoin price is now trading a bit as if traders are unsure what to do next.

The lack of follow through on rallies suggests that traders are not very confident in a rally.

Was this writing helpful?





This post Bitcoin Provides Historic Buying Opportunity – These Are The Best Entry Levels To Watch

was published first on https://coinpedia.org/bitcoin/bitcoin-providing-historical-buying-opportunity-heres-the-best-entry-levels-to-watch/

Author

Write A Comment