As Bitcoin’s value rose sharply from under $70,000 to over $108,000 in less than two months following Donald Trump’s election win, some investors were left out of the loop. However, due to Bitcoin’s volatile nature, substantial corrections often occur, providing opportunities for those who missed the initial surge.
Recently, Bitcoin’s value plummeted by double digits, causing discussions about “buying the dip” to resurface online. This suggests that some investors believe the current drop in value presents a good opportunity to purchase Bitcoin at a lower price. Historical data indicates that such dips have often preceded significant rallies in Bitcoin’s value.
Despite this, on-chain and technical metrics suggest that additional downward pressure may be exerted on Bitcoin’s value in the short term.
Source
