Mentions of “buy the dip” on Reddit, X, 4chan and Bitcoin Talk doubled over the last two days as Bitcoin has fallen to lows unseen in months.
Mentions of “buy the dip” on social platforms Reddit, X, 4chan and Bitcoin Talk briefly doubled over the last two days as Bitcoin (the total mentions across the four platforms, as crypto traders debated what stage of the bull market Bitcoin is currently in.“The crowd is showing signs of seeing this as a buy the dip opportunity,” said Santiment in a post on X, adding:
“Ideally, we wait for their enthusiasm to settle down. The time to buy is when they are impatient and skeptical.”Some are worried that Bitcoin could slump if a significant portion of Mt. Gox’s 127,000 creditors end up selling their recovered Bitcoin. Lee isn’t sure when the bottom will be in, but stood by his prediction that
“ was a huge overhang for many years that is going to disappear in July, I think it’s a reason to expect a pretty sharp rebound in the second half.”may have come from the spot Bitcoin exchange-traded funds, which have only seen inflows in sixof the last 18 trading days, Farside Investors data“This negativity may prompt a correction to the $48-50K bottom area,” Ayyldr estimated in a July 3 X post to his 19,300 followers.
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