Popular Crypto Analyst Spots Bitcoin (BTC) Opportunity, Says Ethereum (ETH) Merger Bullish Effects Take Time
A popular crypto guru says Bitcoin (BTC) investors can never be sure if the market will bottom, although they can read the signs.
Pseudonymous crypto trader Rekt Capital is encouraging its 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.
Therefore we must take the risk of trusting our experience, intuition and thesis & have the courage to make a decision that will change our life in the future.”
The analyst suggests that BTC investors who buy in the bear market will always come out on top.
“People who bought BTC a bit early in the bear market (say, at $35,000) will do better than people who watched when BTC was at $20,000 but didn’t do anything about it.”
Rekt then points to historic bear market cycles and suggests that a new all-time high is only a matter of time.
“Each cycle, BTC has hit a new all-time high
The current all-time high is ~$65,000
The current price is $20,000
The math is simple when planning to participate in the next bull market.”
Rekt then defines for his followers what kind of investors are now buying into BTC.
“Bargain buyers and long-term owners are buying BTC now
In fact, they’ve been buying for months
Given their dollar cost averaging strategies, they could be losing money right now
But they understand that temporary losses will be far outweighed by future outsized rewards.”
Rekt also targets Ethereum (ETH) investors who may be disappointed by the smart contract platform’s price drop after the successful merge upgrade, suggesting that ETH needs time to turn bullish.
“The investor disappointed with the post-merger ETH price action is likely the same investor who would be disappointed immediately after the BTC halving
BTC only starts to rally strongly months after the halving
Such catalysts have a delayed, longer-term impact on price…
The bullish effects of the ETH merger will show up over the long term.”
ETH is down about 6% since yesterday’s upgrade.
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