BTC - Here's Why Bitcoin's Next Big Move Could Redefine Your Investment Strategy
2024-07-16 04:59:00 ET
After hitting a new all-time high of $73,750 in mid-March, Bitcoin (CRYPTO: BTC) has struggled mightily. The world's most popular cryptocurrency recently dipped below the $54,000 level although it has since recouped some of the losses. As a result, some crypto investors are starting to abandon Bitcoin and look for better investment options elsewhere.
But I think that would be a mistake. Abandoning a long-term investment strategy after just a few months of poor performance could prevent investors from participating in Bitcoin's next big move. Time and time again, a buy-the-dip strategy has worked with Bitcoin, and this is shaping up to be yet another opportunity.
Bitcoin is now trading more than 10% below an all-time high set in March. For traditional equities, that would be awful. But the size of this decline is actually negligible compared to the size of Bitcoin's previous declines.
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Here's Why Bitcoin's Next Big Move Could Redefine Your Investment Strategy