Revolutionizing Markets with Unbiased Insights: Expert Analysis of Bitcoin’s Turbulent Surge

Bitcoin Price Below $78k: Expert Says ‘Don’t Buy the Dip’

The cryptocurrency market is in a state of turmoil as Bitcoin’s price falls below $78,000. Amidst the chaos, experts are offering their insights on whether investors should buy the dip or not.

Glen Goodman, a crypto trader and author, recently shared his thoughts on this matter with CoinDesk. In an exclusive interview, he warned that buying during a sharp decline in prices can be risky and may lead to losses.

The concept of “catching a falling knife” is often used in trading to advise against buying when the market is plummeting. Goodman emphasized the importance of waiting until the market stabilizes before making any moves. He recommends watching for higher highs and higher lows, indicating signs of recovery, before deciding on a strategy.

When discussing Bitcoin’s long-term outlook, Goodman acknowledged that it has been strong since 2023, but noted that recent events have raised concerns about its potential to continue growing at the same pace.

Source: https://coinpedia.org/news/bitcoin-price-below-78k-expert-says-dont-buy-the-dip/