BTC Experts Say ‘Bitcoin Is Fine’ Despite Continuous Dip; Point to Massive Opportunities to Exploit
As the crypto market experiences a dip, with Bitcoin’s price retreating from recent all-time highs, several prominent voices in the industry are urging calm and expressing optimism about the long-term prospects of the leading cryptocurrency.
Among them is the popular X account Altcoin Daily, which reassured its followers with the tweet: “This dip is pre-halving. Bitcoin is fine. This dip is an opportunity.” The account is referring to the upcoming Bitcoin halving event, scheduled for 2024, where the reward for mining new Bitcoin blocks will be reduced by 50%. Historically, these halvings have been followed by significant price increases as the reduced supply of new Bitcoin meets continued or increased demand.
Lady of Crypto, another influential voice in the space, provided a broader perspective on the crypto market’s growth, tweeting: “The total crypto market cap was: • $9 billion in 2013 • $750 billion in 2017 • $3 trillion in 2021 Right now, in 2024, it is $2.5 trillion, and people think this bull run is half done. We go much higher!”
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Show more +For those unfamiliar, the term “market cap” refers to the total value of all cryptocurrencies in circulation, calculated by multiplying the current price of each coin by the number of coins in circulation. Lady of Crypto’s tweet highlights the remarkable growth of the crypto market over the past decade and suggests that the current bull run (a period of sustained price increases) may have significant room for further appreciation.
Layah Heilpern, a self-described veteran of multiple Bitcoin bull runs, added her perspective, stating: “This is my 3rd bull run. I have NEVER seen sentiment so quiet this close to the halving. I have NEVER seen excitement so low while bitcoin is at ATHs. I have NEVER seen memecoin season this early in a bull run. Everything is different this time. And we’re just warming up!”
Heilpern’s comments refer to the relatively muted excitement and hype surrounding Bitcoin’s current price levels, despite the fact that they represent all-time highs. She also notes the early emergence of “memecoin season,” a phenomenon where lesser-known, often joke-inspired cryptocurrencies experience significant price surges, which typically occurs later in a bull run.
Overall, these voices highlight the potential for further upside in the crypto market, suggesting that the current dip may represent a buying opportunity for those looking to capitalize on the upcoming halving event and the broader bull run cycle.
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