Experts Warn Against ‘Panicking and Selling’ Bitcoin to Whales, Agree on Next BTC Price Direction
Prominent crypto analysts and influencers are urging retail investors to hold onto their Bitcoin holdings, despite the recent price correction that saw the flagship cryptocurrency dip around 20% from its recent highs above $70,000.
Ash Crypto, a well-known Bitcoin bull with a large following on X, took to Twitter to reassure investors that the dip was merely a “pending 20% correction” after Bitcoin’s strong rally from $28,000 to over $73,000. In his tweet, he cautioned against “panicking and selling your coins to [institutional investors] and other whales,” suggesting that selling during the dip would only benefit large investors looking to accumulate more BTC at lower prices.
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Show more +“We are in a Bull market, come out of your bear market PTSD coz 100x gains are coming,” Ash Crypto added, referring to the psychological impact of the prolonged crypto winter that preceded Bitcoin’s recent surge. He seems to believe that this correction is temporary and that much larger gains lie ahead for those who remain patient and hodl (hold on for dear life) their Bitcoin.
Another analyst, Captain Faibik, echoed similar sentiments, declaring that the “13% Correction” for Bitcoin was “done” following the “Wedge Downside Breakout.” Faibik expressed confidence that Bitcoin would soon reclaim the $70,000 level, tweeting “Now, Let’s Send it back above 70k..”
It’s worth noting that the terms “wedge” and “downside breakout” refer to technical analysis patterns used by traders to identify potential reversals or continuations in price movements.
While past performance is no guarantee of future results, the optimism expressed by these influential voices in the crypto community highlights the continued bullish sentiment surrounding Bitcoin, even in the face of volatile price swings. As the market continues to evolve, investors will likely continue to closely monitor the analysis and predictions of respected figures like Ash Crypto and Captain Faibik.
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