Dr. Profit emphasizes buying during market fear, predicting strong returns from accumulation at the market's bottom range.
Major firms like BlackRock and Fidelity maintained Bitcoin holdings during the downturn, signaling confidence in long-term gains.
Bitcoin accumulation hit a peak in July 2024, with large holders buying over 84,000 BTC, the highest level since 2014.
Amid the ongoing crypto market downturn, prominent analysts are urging investors to view the situation as a prime opportunity for long-term gains. Dr. Profit, a well-known crypto analyst on X, has consistently reiterated his belief that the best time to buy is during periods of extreme fear.
He argues that golden trades are often secured when the market is gripped by fear, pointing out that those who buy during such times tend to see major returns. Dr. Profit’s strategy involves placing accumulation orders at the bottom of the market range, expecting quick rebounds from any dips below this level.
https://twitter.com/DrProfitCrypto/status/1823137106803499109 Strategic Accumulation by Major Investors
Dr. Profit’s approach aligns with recent market behavior, where major asset management firms such as BlackRock, Fidelity, Grayscale, and MicroStrategy have maintained their Bitcoin positions despite widespread sell-offs by individual investors.
These firms collectively hold significant amounts of Bitcoin, with BlackRock owning 342,700 BTC, Fidelity 180,000 BTC, Grayscale 226,500 BTC, and MicroStrategy 152,800 BTC. Their decision to hold rather than sell during the market downturn underscores their confidence in the long-term potential of cryptocurrencies.
Dr. Profit’s recent moves have paid off, with substantial gains reported in various cryptocurrencies. According to his recent post on X, he bought Bitcoin when it was trading at $50,000 and accurately predicted it would rise to $58,000-$60,000.
Similarly, he purchased BNB at $396, resulting in a 30% gain, and ONDO at $0.55, yielding a 50% increase. These trades highlight his belief in the market's resilience and his focus on buying during market dips.
Rising Bitcoin Accumulation Signals Market Confidence
The accumulation of Bitcoin by large holders has reached its highest level since 2014, with over 84,000 BTC acquired in July 2024 alone. This surge in accumulation reflects renewed interest and strategic buying by major investors. Despite the market’s current challenges, the actions of these large holders indicate a strong belief in the future value of Bitcoin.
Other notable figures in the financial world echo this sentiment. Robert Kiyosaki, author of Rich Dad Poor Dad, recently advised investors to take advantage of market crashes, emphasizing that brave investors often emerge richer, while those who panic tend to lose out.
Similarly, crypto analyst @Vivek4real_ pointed out that whales have been buying Bitcoin at levels not seen since October 2014, further indicating confidence among major players in the market. This accumulation trend highlights the strategic approach many large investors are taking, focusing on long-term gains rather than reacting emotionally to market fluctuations.
The post Top Crypto Analyst Urges Buying Amid Fear as Major Investors Accumulate Bitcoin in Record Numbers appeared first on Crypto News Land.
