Is this the time to buy Altcoin? Don't be afraid!
Bitcoin is under selling pressure, causing the price to drop below the 100k mark and has twice fallen to the 94k range. The percentage of correction is not large, but altcoins have dropped by more than 30% in just the past 3 days. This could be an opportunity to buy altcoins at a good price before the market returns to an upward trend. Here are a few reasons:
1/ Spot ETF funds are continuously buying Bitcoin, led by Blackrock IBIT. When the world's largest asset management fund is consistently accumulating Bitcoin while the market is fearful, you should stay away from the crowd mentality and observe the actions of market operators.
2/ Buying Altcoin here, you will stay away from the FOMO of the past few weeks and your altcoin holding position is also much safer than many investors. A 30% correction is also the average of the Bull Market 2021, so you don't need to be too worried. Of course, you should not go ALL-IN. Keep USD reserves in case of further price corrections.
3/ Stay away from excessive leverage. Altcoin prices are moving sideways near the bottom, however there has not been a short-term price increase confirmation yet. Therefore, this time is more suitable for you to accumulate spot altcoins rather than trading with large leverage.
