Recently, many friends have asked me if Bitcoin: native has already bottomed out and rebounded.

CN
Phyrex
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2 hours ago

Recently, many friends have asked me whether bitcoin:native has already bottomed out and whether it will enter a bull market next. To be honest, I really don't know. If I knew, I would have gone all in earlier. Although I don't know, I believe that my approach of buying on dips is correct. I have repeatedly stated that there is a lot of capital buying at around $60,000. I have also been buying in this range. After the rebound, there are basically two scenarios.

One is that it continues to rise. In that case, using a dual currency strategy can ensure that I earn interest continuously. Although the increase might not be as great as buying at the bottom of Bitcoin, it is definitely a low-risk U-based yield. If there is a correction and $60,000 turns out to be the bottom, then buying near $70,000 wouldn’t be considered a loss. However, if it continues to drop below $60,000 (which may or may not happen), then continuing to buy on dips can also average down the cost.

So for Bitcoin, I’m not too worried about buying from a low price, especially in the case where there is a lot of capital purchasing. Therefore, I am currently basically watching a decline of around 5%. If it continues to fall and I haven't bought yet, I will continue to lower my buy price until it returns to $65,000. And if it doesn’t return, buying around $70,000 won't lead to large losses.

Overall, I am still fairly optimistic about Bitcoin. If there are any pitfalls along the way, they should occur before the election. So I am still quite cautious now, and I'm not allocating much capital. If there are no pitfalls before the election, I will make another purchase. If there are still pitfalls, I will continue to buy on dips.

@Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFD, a one-stop trading for prediction markets


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