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Should you buy Bitcoin at $100K? Analyst says check THESE boxes first!
As Bitcoin (BTC) continues to show remarkable strength and reach new heights, the question on everyone’s mind is whether it’s a good idea to buy in at this point. According to analyst Ki Young, there are certain crucial factors that potential buyers should consider before making a decision.
In an exclusive interview with AMBCrypto, Ki Young highlighted several key considerations that investors should prioritize before taking the plunge and buying Bitcoin at $100K.
First and foremost, Ki emphasized the importance of ensuring that potential buyers would not regret not purchasing if Bitcoin climbs to $145K. He stressed that it is essential to have a long-term commitment, suggesting a minimum holding period of one year.
Furthermore, he warned that investors should be prepared for a possible bear market and must be able to withstand corrections of over 30% without panicking. This, according to Ki Young, is vital in ensuring the sustainability of any investment decision.
Ki’s warning comes as Bitcoin’s open positions show an unusual concentration at the $100K level. A closer examination reveals that this specific point registered the peak number of open contracts and could be crucial for Bitcoin’s price movement.
Source: ambcrypto.com
