Buying the dip instantly becomes a nightmare as crypto prices drop further as the bear market continues its inception. However, the recent declines show that current prices may be a good entry point for traders. To find out what the community thinks, Cointelegraph asked to Twitter to answer the question: has the bottom been reached?
Could you please stop jinxing my shorts?
— Stoic Trader (@stoic_traders) September 22, 2022
From bracing for a bigger shock and expecting Bitcoin (BTC) prices to drop to hoping the fun that comes with a bull market continues, members of the cryptocurrency community shared their thoughts on the bottom of cryptocurrency prices.
Some Twitter users are convinced that the bottom has not yet been reached. A member of the community answered to the thread saying that people should be prepared for Bitcoin to go even lower. “This winter will be hard,” they wrote. Despite being of the same opinion that the bottom hasn’t been hit yet, another Twitter user shows a more positive vibe saying they just collect some winners and are looking forward to what’s next.
Meanwhile, a community member who wrote maximalist shitcoin in his Twitter bio he responded to the thread in a cheerful manner, but was apparently tired of cryptocurrency price drops. He tweeted it:
it’s been the bottom for 550 crashes now, but it might not be the bottom woohoo
— MegaFish (@MegaFishest) September 22, 2022
Apart from this, another member of the community also replied hoping that the recent price drops have already bottomed out. According to the community member, unless the price of BTC breaks the $25,000 mark, traders will not know if the current prices are really the bottom. However, the trader wait let this be so that “the fun can resume”.
In September, analysts discussed the issue of the Bitcoin bottom and gave their opinions in a organized twitter space by Cointelegraph. In the talk, Blockware Solutions analyst Joe Burnett said that there are many factors putting pressure on Bitcoin, including government attempts to combat inflation.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.