Should You Buy Bitcoin on the Dip?
Bitcoin (CRYPTO: BTC) may be up more than 50% for the year, but the past three months have been disappointing, to say the least. Bitcoin is now trading more than 10% below its all-time high of $73,797, which it set back in mid-March. And on June 18, the price of Bitcoin fell below $65,000 for the first time in more than a month.
But no worries. We've seen this story before with Bitcoin, and seasoned crypto investors know that short-term declines in the price of Bitcoin can often present unique long-term buying opportunities. So here are two good reasons to stop worrying and buy the dip.
At some point, it starts to sound like a broken record, but here's the reality: Huge investor inflows into the new spot Bitcoin ETFs are likely to send the price of Bitcoin higher. While there was some cooling of investor inflows into the ETFs in May, the pace of capital being committed to the cryptocurrency seems to be picking up again. At one point in early June, the new Bitcoin ETFs had a 19-day streak of net investor inflows. To date, more than $30 billion has flowed into the new ETFs.
Source Fool.com
