Should you buy the recent Bitcoin dip?
Bitcoin’s price surge in the last 3 to 4 months has been exponential without a doubt. However, it is relatively less exponential when compared to the 2017 bull run. The 2017 bull run saw a 228% surge in 34 days while the current bull run has seen a 125% surge in 27 days.
The peculiar thing about bull runs like these is that there is no correction. As mentioned in a previous article, the recent crash was inevitable. This crash could either turn into a correction with the price preparing for the next leg up or a full-blown rejection into the bear market.
In fact, today’s drop was the second-largest drop since March 2020’s Black Thursday drop, which was 39%. A total of $2.74 billion positions were liquidated in the last 24 hours due to this drop.
Hence, a lingering question among investors is if this dip is worth buying/accumulating more bitcoin.
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