With Billions being wiped out of the cryptocurrency market cap every day, the total market cap stands at $121.8 Billion as of now with Bitcoin Dominance at 54.3% and currently trading at $3806 as on CoinGecko.
Buy the Dip (but in a bull market)
With volumes skyrocketing in the last 7 days and Bitcoin diving into the pit, HODLers are preaching everyone to buy the dip. One thing to realize is that buying the dip works well “only” in a bull market. If you are buying dips in an “evident” bear market, you will get rekt.
CobraBitcoin on twitter recently tweeted and shut down Bitcoin Maximalists who have been preaching to “but the dip” ever since Bitcoin started falling from $19000.
Can maximalists fucking stop telling people to “buy the dip”? You guys have been saying this every step of the way down from $19k. Bitcoin could go to $3k and stay there *FOREVER*, there is nothing guaranteed about Bitcoin rising, but many seem to think its a universal truth!
— Cøbra (@CobraBitcoin) November 25, 2018
With Bitcoin trading nearly at its 15 months lowest prices, what do you think about the price action? Do you think Bitcoin will bounce back from $2500 to $3000 range? Comment below.