Popular Crypto Analyst Spots Bitcoin (BTC) Opportunity, Says Bullish Effects of Ethereum (ETH) Merge Needs Time
A widely followed crypto guru says Bitcoin (BTC) investors can never be sure of a market bottom, even if they can read the signs.
Pseudonymous crypto trader Rekt Capital encourage his 328,500 Twitter followers to trust their instincts and data on BTC.
“As BTC investors, we will never have enough data to trust where the absolute bottom will be.
That is why we must take the risk by trusting our experience, intuition, investment thesis and having the courage to make a decision that will change our lives in the future.
The analyst suggests that BTC investors who buy in the bear market will always come out ahead.
“People who bought BTC a little too early in the Bear Market (say at $35,000) will outnumber people who watched when BTC was at $20,000 but didn’t do anything about it.”
Rekt then points to historical bear market cycles, hint that a new all-time high is simply a matter of time.
“In each cycle, BTC has made a new All-Time High
Current all-time high is ~$65,000
Current price is $20,000
The math is simple if you plan to participate in the next Bull Market.”
Right then defines for his followers what type of investors are buying into BTC now.
“Bargain buyers and long-term holders are buying BTC now
In fact, they have been buying for months
Given their dollar cost averaging strategies, they may currently be at a loss
But they understand that temporary loss is far outweighed by future outsized rewards.”
Right too addresses Ethereum (ETH) investors who may be disappointed by the smart contract platform’s price drop following the successful merger upgrade, suggests ETH needs time to turn bullish.
“The investor disappointed with ETH price action post-merger is likely the same investor who would have been disappointed with BTC immediately post-halving
BTC only starts to rally strongly months after halving
Such catalysts have delayed, longer-term effects on the price…
The positive effects of the ETH merger will appear in the long term.”
ETH is down approx. 6% since yesterday’s upgrade.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Ivan Popovych
