Buy Bitcoin On Dips

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Buy Bitcoin On Dips

Should You Buy Bitcoin On Dips?

Bitcoin is struggling, and so is the entire cryptocurrency market. But this also raises the question of whether you should really buy Bitcoin at dips or if it is wise to wait for the bullish trend to start?

For those who want to invest in the long term, opportunities like these can be a gift. But for those who only have a short-term investing horizon, it might not be such a good idea to buy Bitcoin.

Bitcoin's Long-Term Trend Is Bullish

One of the biggest advantages of Bitcoin is that it doesn't need to add new features to stay relevant. Also, the supply of Bitcoin is limited, and it has the first-mover advantage, which is its biggest strength.

Also, many people view Bitcoin as a hedge against the risks associated with government policies that could affect fiat currencies. After all, Bitcoin was made due to the aftermath of the 2008 financial crisis, and many people still associate Bitcoin with the safety of funds.

In a nutshell, Bitcoin is a completely independent asset that can not be controlled by any government. The best part is that no one can print more Bitcoin, which means the long-term trend will always be bullish, as supply will end one day.

If we talk about risks, the biggest one is the risk appetite, which is not in favor of Bitcoin. Also, outflows from the Bitcoin ETF continue, which is putting pressure on Bitcoin.

The bottom line is that it is a good idea to buy Bitcoin on dips. But, this only applies if you are willing to buy and hold Bitcoin for a few years rather than a few months or just one year.

Also, the overall crypto market will only move higher once Bitcoin starts to move higher. So, if you can digest the extra risk that comes with investing in the crypto market, then Bitcoin is a really good choice.

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