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Social media is full of people saying it’s a good time to buy Bitcoin because it’s gone down in price.

Warning: Crypto is a risky investment. This article is meant to give you information, but it is not giving you advice on how to invest your money.

Lately, cryptocurrency traders are feeling hopeful and have been urging others on social media to buy Bitcoin when its price goes down.

According to information from blockchain analytics company Santiment, the phrase was mentioned the most in 22 months, reaching 323 mentions, the highest since March 25, 2022.

More people are talking about “buy the dip” on social media, which shows that traders are hopeful the market will bounce back soon.

This feeling became stronger after the crypto market suddenly dropped on January 3. This made traders see the chance to buy crypto at lower prices.

Data from Google Trends also shows that more and more people have been searching for “buy the dip” since November 2023.

On social media, people are saying it’s a good time to buy stocks instead of sell them.

People who study and use X, like Dust, think that the prices could go up a lot and say it’s a good time to buy when prices are low.

In the past, when people have bought stocks when they are low, it has been a good chance for some traders to make money. But it has also led to bigger drops in the stock market.

During the 2021 market surge, when there were big increases in people buying stocks, the prices went up a lot and then went down a lot.

Fear and Greed Index continues to show Greed.

Even though the price of cryptocurrency has gone down, people are still interested in buying and making money from it, according to the Crypto Fear and Greed Index.

The measure went down from 73 to 68 on January 4, but it still shows that traders are feeling optimistic about the market going up.

Bitcoin’s price dropped sharply on January 3, going down by 9% from $45,510 to $41,000. This caused a lot of people to lose money, with over $700 million in losses within 24 hours.

The market went down because a company called Matrixport changed its prediction about the US government approving a new way to trade Bitcoin.

Matrixport thinks that the SEC will not approve spot Bitcoin ETFs in January and will delay the decision until later this year.

According to CoinGlass data, the crash caused more than $550 million in cryptocurrency investments to be sold off.

In total, 172,626 traders lost all their money. The long liquidations lost $557 million and the short liquidations lost around $58 million.

OKX, Binance, and Huobi lost a lot of money. OKX lost the most at over $230 million, followed by Binance at $105 million and Huobi at around $74 million.

Bitcoin and Ethereum futures lost a combined total of $192 million in the last day.

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2 COMMENTS

  1. I do agree with all the ideas you have introduced on your post They are very convincing and will definitely work Still the posts are very short for newbies May just you please prolong them a little from subsequent time Thank you for the post

  2. Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you can do with a few pics to drive the message home a little bit, but other than that, this is fantastic blog. A great read. I’ll certainly be back.

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