Analyst Shares Why Now Is the Best Time to “Buy the Dip” in Bitcoin (BTC) and Altcoins: Points to Alts to Buy
The cryptocurrency markets have experienced significant volatility recently, largely driven by escalating geopolitical tensions rather than fundamentals surrounding Bitcoin’s upcoming halving event. However, one popular crypto analyst and investor who goes by VirtualBacon on X argues that the current market turmoil actually presents a prime buying opportunity to accumulate Bitcoin (BTC) and a handful of promising altcoin projects.
In an extensive X thread, VirtualBacon lays out a bullish case for why investors should “stay calm and strategically accumulate” to buy the dip despite the market’s rocky performance of late. The analyst points out that each previous cycle’s major crisis ended up being a pivotal moment for getting into strategic crypto investments at favorable prices before the next bull run.
Bitcoin Resilience and Key Support
While admitting the market “might look like Armageddon” at the moment, VirtualBacon sees Bitcoin maintaining its resilience and holding above the $58,000 to $60,000 level around its 100-day exponential moving average (EMA) based on the top crypto’s past ability to withstand turbulent events.
“Bitcoin’s resilience around the 100-day EMA ($58k-$60k) during past turmoils suggests a strong support level,” VirtualBacon stated. “As we approach the Bitcoin halving, maintaining positions and averaging down could be wise, avoiding leverage to capitalize on upcoming stability.”
With Bitcoin’s next halving event expected in few days, the analyst believes holding Bitcoin or buying its dips could allow investors to capitalize on the likely bull run and price appreciation that typically follows these key supply-reducing events.
Altcoin Opportunities
Beyond Bitcoin, the X thread highlights several altcoin investment opportunities across the growing AI cryptocurrency space, GameFi and metaverse projects, as well as select Ethereum competitors and meme coin picks.
In the AI crypto sector, VirtualBacon names Fluence, NetmindAI, GamerCoin and Virtuals as “strong picks” to consider, noting their cutting-edge tech, strategic partnerships, solid backing and significant upside potential.
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Show more +For gaming and metaverse projects, the analyst favors names like Aperion, QORPO, Planet Mojo, SupraVerse, WilderWorld, GAM3 and GuildFi, calling the gaming sector “ready to bounce” with these platforms providing critical infrastructure.
VirtualBacon also points to Ethereum rivals like Solana trading near $90 to $110 as well as NEAR Protocol’s evolution into AI as potential opportunities. The analyst cites a possible 6.5x to 7x return for Solana in the current cycle, with the smart contract platform conceivably hitting $700 at peak based on its historical precedent.
Among other altcoin picks are scaling solution Celestia’s rising valuation ahead of its network launch, Arweave and its “V2 mainnet launch” catalyst after a major correction, and the imminent release of Sei Network’s high-performance EVM chain. VirtualBacon also mentions Fantom’s “Fantom Sonic” roadmap to match Solana’s scalability as an undervalued opportunity.
Strategic Accumulation
In sharing his outlook, the analyst emphasizes the importance of understanding key market support levels to spot potential bottoms and prepare for rebounds across Bitcoin, Ethereum and the broader altcoin market cap. VirtualBacon is advocating a strategic accumulation approach right now rather than panic-selling or shifting entirely to stablecoins.
“Despite instinctive reactions to shift towards stability in times like these in the market, historical insights and strategic analysis recommend a different approach,” VirtualBacon states. “As we near the Bitcoin halving, preparing for potential dips without panic is crucial. This isn’t the time to step away from the market but to smartly engage and seize opportunities in Bitcoin and altcoins.”
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