Buy BTC: Efforts to Find Entry Point Gaps Amid Market Uncertainty

Bittime - The cryptocurrency market has recently experienced turmoil, with Bitcoin (BTC) experiencing a drastic decline from its record high. However, amidst this volatility, analysts see interesting opportunities for investors looking to Buy BTC.

Price Drop: BTC Buying Opportunity?

In November 2021, Bitcoin reached a record high of $68,789.63. However, soon afterward, the price underwent a sharp correction, dropping to as low as $40,000. This drop sparked concern among investors, but analysts saw it as an opportunity to Buy BTC at lower prices.

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Market Analysis to Buy BTC

Swissblock

Analytics firm Swissblock observed that Bitcoin's recent price decline was a successful retest of the $59,000-$62,000 area. Before reaching a record high, Bitcoin consolidated in this area for a week. Swissblock predicts that Bitcoin will rise again and reach the price target of $76,000.

QCP Capital

Digital asset trading firm QCP Capital is also optimistic about Bitcoin's prospects. They noted that dips were bought quickly and aggressively by investors, indicating their confidence in this asset. QCP Capital predicts that Bitcoin will break the $70,000 level in the near future.

Also Read: CryptoPunk Sells for $16 Million: The Era of NFT Markets is Back?

Investor Sentiment to Buy BTC

Despite market volatility, investor sentiment towards Bitcoin remains positive. This can be seen from the influx of large funds into the Bitcoin Exchange Traded Fund (ETF) registered in the United States. As the price of Bitcoin fell, the Bitcoin ETF experienced a net inflow of $648 million, indicating that investors took advantage of the price drop to Buy BTC.

Also Read How to Buy Crypto:

BTC/IDR Price Today

Source: Bittime.com

On March 7, 2024, the price of BTC (Bitcoin) / IDR was at IDR 1,043,267,320 per coin, up 3.89% in 24 hours and 5.10% in the past week. 

Supporting Factors for Bitcoin's Rise, Worth Buying BTC Now?

• Institutional Adoption: More and more institutions and large companies are starting to invest in Bitcoin, such as Tesla, MicroStrategy, and Grayscale Investments. This increases Bitcoin's credibility and drives demand.
• Inflation: Bitcoin is seen as a hedge asset against inflation, as it is limited in quantity and cannot be manipulated by governments.

Conclusion

Even though the cryptocurrency market experiences fluctuations, Bitcoin still shows high growth potential. Analysts predict that Bitcoin will rise again and reach the new price target. The recent price drop could be an opportunity for investors looking to Buy BTC at lower prices.

How to Buy Bitcoin (BTC) on Bittime

You can buy and sell  Bitcoin (BTC)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC)  is available on Bittime with  the market pair BTC/IDR . To be able to buy  BTC IDR  at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy Bitcoin (BTC) on Bittime . 

Monitor price  chart movements  for Bitcoin (BTC ) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.